Jan 19th, 2024 – The S&P 500 has reached its all-time high on Friday thanks to a rally by tech companies, which are now rising after a wobbly start of the year. Nvidia (NVDA) (Purchased 0.2773 units @ $471.73) was one of these companies that rallied, in fact the chip-maker company has hit itself its all-time high, thanks to the Meta CEO Mark Zuckerberg that said in an Instagram reel that he is investing billions in Nvidia’s chips to improve his AI infrastructure.
About the chip-maker companies, it is important to underline that OpenAI’s CEO Sam Altman is raising funds in order to create a network of factories to produce semiconductors. Altman’s fundraising push reflects his concern that as AI becomes more interesting everyday for individuals and companies, there won’t be soon enough chips for everyone.
iRobot shares tumbled on Friday, losing more than 30% after the news that the EU is set to block the Amazon takeover bid. Even if the UK gave the all-clear previously for the acquisition, the EU commission did not. The reason beyond this choice is that the regulators are worried that this deal will give Amazon and iRobot a favorable position, making it difficult for other vacuum-makers to compete, especially if Amazon would give benefits to iRobot products on its e-commerce site.
Author: Filippo Ferrero