The tech-heavy Nasdaq was up more than 3 per cent. The ARK Innovation ETF was up 6 per cent, and is now up 50 per cent in a bit over a month. This depresses the risk premium on speculative stocks. If I was asked to summarise the reports from Apple, Alphabet, and Amazon in a single word, it might be “sober”.
Microsoft co-founder Bill Gates sees another paradigm shift in generative A.I. tools like OpenAI's ChatGPT.
Google’s advertising revenue slipped 4 per cent in the final quarter of last year, marking only the second quarterly contraction in the company’s history, according to figures released late on Thursday. The advertising decline followed a sharp slowdown in Google’s business last year as economic growth weakened and the pandemic-fuelled boom in digital services receded. It left parent Alphabet with overall revenue growth of only 1 per cent, compared to the 32 per cent surge in business it registered the year before.