China Fund News Tyler
Brothers and sisters, let’s pay attention to overseas market news tonight.
US stock market situation
US stocks were mixed tonight. The Dow Jones rose slightly, while the Nasdaq and S&P 500 continued to fall.
Merck’s share price plummeted by more than 10%. The company's full-year guidance was weaker than expected, offsetting a strong second-quarter report.
Although Pfizer's financial report was higher than expected, the stock price still fell by more than 2%. The company also raised its full-year revenue and profit forecast.
Investors are focused on whether big tech companies can reap returns on investments in artificial intelligence after a disappointing start to the earnings season. Globally, technology stocks were under pressure as Tesla and Alphabet each posted disappointing results last week. Lionel Jardin, equity sales trader at
marex's Paris branch, said: "With anything related to AI, we are already in the investment stage, but now we want to see how it performs in terms of returns."
Swissquote senior analyst Ipek Ozkardeskaya Said: "If companies cannot confirm the positive impact of AI on their revenue, then strong performance may not inspire the same enthusiasm as in previous quarters."
Chip stocks plummeted
In the US stock market tonight, it is worth paying attention to The semiconductor sector plummeted, with the Philadelphia Semiconductor Index plummeting 3%.
Nvidia stock price plummeted nearly 7%!
Why did Nvidia plummet? Judging from the news, it may be related to Apple.
It is reported that the technology giant Apple released the first "Apple smart" mobile operating system test version, but the market found that the training of Apple's large model used Google technology, and the Nvidia content was zero.
Apple said on Monday that the artificial intelligence models behind its artificial intelligence system Apple Intelligence were trained on processors designed by Google, , a sign that big tech companies are looking to alternatives to Nvidia when training the most advanced artificial intelligence.
In a just-released technical paper, Apple detailed its choice of Google’s self-developed processing unit (TPU) for training. Additionally, Apple released a preview version of Apple Intelligence for certain devices on Monday.
Nvidia's pricey graphics processing units (GPUs) dominate the market for high-end artificial intelligence training chips, with demand so high over the past few years that many technology companies have struggled to procure the quantities they need. OpenAI, Microsoft are all using Nvidia GPUs to train their models, and other technology companies including Google, Meta, Oracle and Tesla are also buying these chips in large quantities to build their artificial intelligence systems. and products.
What makes Apple's decision to rely on Google notable is that Nvidia's chips dominate the industry, with about 80% of the market.
In the research report, Apple did not clearly state whether it uses NVIDIA chips, but in the description of its AI tool infrastructure, it did not mention NVIDIA related hardware.
Nvidia does not design TPUs, but focuses on so-called graphics processing units (GPUs) that are widely used in AI.
Unlike Nvidia, which sells its chips and systems as separate products, Google sells TPU access through its Google Cloud Platform. Customers interested in purchasing access must build software through Google's cloud platform to use the chips.
Apple engineers further stated in the paper that using Google's TPU chips not only meets current needs, but also provides the possibility of manufacturing larger and more complex AI models in the future.
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