Nvidia’s third-quarter financial results on Wednesday surpassed analyst expectations, signaling that demand for its artificial intelligence chips remains robust amid investor concerns about an AI bubble. The chipmaker reported earnings of $31.9 billion on record revenue of $57 billion for the third quarter. Revenue for the period surged 22% from the previous quarter and 62% … Read more
Target on Wednesday said it’s working with OpenAI to let customers shop its products through ChatGPT, a move that comes as the retailer is struggling to convince inflation-weary consumers to stick with it. Customers will be able to browse Target’s selection and make purchases within the ChatGPT app, according to the retailer. The tool will debut … Read more
The U.S. stock market sank sharply in early trading, with investors increasingly skittish about the strength of the artificial intelligence boom. The S&P 500, which set a record high in late October, fell 78 points, or 1.2%, to 6,594 roughly an hour into Tuesday’s session. The Dow Jones Industrial Average and tech-heavy Nasdaq Composite dropped … Read more
Esteemed investor Peter Lynch has stated that he does not hold any artificial intelligence (AI) stocks, despite the sector’s recent surge. Lynch, who is well-known for his successful stint at the Fidelity Magellan Fund during the 1980s, disclosed his views on a podcast. Last month, Lynch confessed during his appearance on “The Compound and Friends” podcast that his portfolio does not … Read more
Artificial intelligence has fired the stock market to record highs this year, with companies eager to tout their AI prowess and investor darlings like AI chipmaker Nvidia soaring on expectations of runaway growth. But a tinge of fear is starting to shadow that exuberance as investors worry the AI boom could go bust. The startling run-up … Read more
Anthropic said Thursday that Chinese hackers used its artificial intelligence technology in what the company believes is the first cyberespionage operation largely carried out using AI. Anthropic said the cybercriminals used its popular chatbot, Claude, to target roughly 30 technology companies, financial institutions, chemical manufacturers and government agencies. The hackers used the AI platform to … Read more
Palantir (PLTR) CEO Alex Karp warned that in large swaths of the artificial intelligence market, the cost to build the technology may not be worth it. His comments came as investors have grown increasingly concerned over whether companies’ billions of dollars in AI spending will pay off. “So there’s really two AI markets from Palantir’s … Read more