![]() To find my way through this thicket of interesting questions, I spoke with Sinan Aral, a professor of management at the MIT Sloan School of Management who also is director of MIT’s Initiative on the Digital Economy. There are now heated debates in Washington and Brussels over the future of antitrust regulation for this market, whether platform operators should filter certain content (and if so, which types), and how to open the market to new innovators. ET: Consumer Credit, December ($25.000 billion expected, $27.962 billion during prior month)Īssurant ( AIZ), BP ( BP), Chipotle Mexican Grill ( CMG), DuPont ( DD), Fortinet ( FTNT), H&R Block ( HRB), Hertz Global ( HTZ) KKR ( KKR), Prudential ( PRU), Royal Caribbean ( RCL), V.F.More than 3.6 billion people use social media, and its runaway success has left the industry at a crossroads. ![]() ET: Trade Balance, December (-$68.5 billion expected, -$61.5 billion during prior month, revised to -$90.2 billion)ģ:00 p.m. For now, investors are buying first and asking questions later. ![]() Whether the likes of BigBear and SoundHound will ultimately thrive is another question. Hundreds of millions of people will be interfacing with generative AI within months. Nina Schick, author of “The Era of Generative AI,” was similarly enthusiastic in an email to Yahoo Finance: “We’re on a cusp of an AI-powered revolution that will redefine the limits of human intelligence and creativity…Unlike the Metaverse which is a untested concept, AI is being implemented into existing systems now - as a software. Ark Invest’s Cathie Wood certainly thinks so. But the initial hype machine turned out not to support the many, many players that sprung up.ĪI could well be world-changing. Of course, we still use railroads, and we still use the Internet. This is all reminiscent of every hype cycle from railroads in the 1800s to the dot-com craze of the 1990s, from cannabis to meme stocks. Yesterday Alphabet rolled out Bard, its ChatGPT competitor.Įven Buzzfeed ( BZFD) is suddenly an AI stock after it said it would have bots write some of its posts. Not surprisingly, big tech has made sure to steer towards AI as companies like Microsoft, Meta, IBM, and Alphabet, touted their investments in AI on earnings calls. The list goes on, as my colleague Ines Ferre highlighted last week. It’s trading below $27 now, but has more than doubled this year, catching a particular surge after it released its “ C3 Generative AI for Enterprise Search.” It didn’t IPO until December 2020, at $42 a share. Founded by software veteran Thomas Siebel in 2009, it’s a relative grandaddy. (All of these “dot-ai” suffixes are reminiscent of the “dot-eth” craze that swept cryptobro Twitter handles over the past few years). Its main customers are in federal government, including the Department of Defense.Īnother de-SPAC, voice AI platform-maker SoundHound ( SOUN), is up about 90% this year (and down more than 50% from when it started trading in April 2022). Today they’re trading around $5.50.īigBear.ai doesn’t make money (of course). The shares finished the session that day at $9.25. The provider of an “end-to-end data analytics platform operationalizing artificial intelligence and machine learning at scale” came public via SPAC in a transaction that closed on Dec. Take a tour of the Yahoo Finance trending ticker page right now (one of my faves), and chances are, you’ll find a company with “AI” in the name, or one that has just released a hot new product touting its use of artificial intelligence.Įxhibit A is BigBear.ai ( BBAI). The trend was perhaps best summed up in this Reuters headline: "Long Island Iced Tea skyrockets after renaming itself Long Blockchain." (It didn't work out well.) That was the height of the rush for companies to slap “blockchain” on their corporate name, or throw the term around in press releases hyping new products and partnerships. It feels a little like 2017 in the market right now. ![]()
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