Dan Loeb hails AI as a decade-defining technology like the PC and Internet - and says a severe recession looks unlikely
are the 'picks and shovels' of the AI gold rush and should benefit regardless of which products ultimately 'strike gold' at the application software layer of the IT stack," he said.in ChatGPT-owner OpenAI, its plans to add AI features to its Office applications, and its ability to offer related services to businesses.
Separately, Loeb issued a bright outlook for the US economy. Declining inflation will allow the Federal Reserve to focus on stimulating growth, in time to offset a drop in consumer spending as householdsMoreover, he underscored the strong state of consumer and corporate finances across much of the economy, arguing it should prevent a wave of debt defaults and credit-market turmoil. The upshot is a mild recession appears more likely than a severe one, he said.
Third Point's flagship Offshore Fund only returned 1.1% in the second quarter, and was down 3% for the year as of July 31. Its gains on Microsoft, Alphabet, Amazon, and AMD were offset by losses on hedges, short bets, and other long positions.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Billionaire investor Loeb cuts bearish bets to avoid short squeezes-letterBillionaire investor Daniel Loeb has reduced the size of short bets on single named companies to limit the vulnerability of his hedge fund, Third Point, to short squeezes, he said in a letter on Tuesday.
Read more »
SDCC 2023: Strange Planet Author Nathan Pyle On Adapting His Work With Dan HarmonWhile at SDCC2023, Screen Rant spoke to StrangePlanet creator nathanwpyle about how the original webcomic came to be, what it's been like working with Dan Harmon, and his feelings on the process of adapting it into an AppleTV animated series:
Read more »
Rep. Dan Goldman mocked for claim Joe Biden ‘talked about the weather’ with Hunter biz partnersPresident Biden was merely talking about the weather, not business with his son’s associates, a top Democrat claims.
Read more »
What Dan Doctoroff BuiltUnder Mayor Bloomberg, the power broker remade the city with astonishing speed. Now, as New York is again mired in crisis, he faces his own.
Read more »
63-year-old man rescued off New York's Long Island after treading water for 5 hours and waving makeshift flagA 63-year-old man treaded water in the Atlantic Ocean for about five hours Monday after he was swept out to sea off New York's Long Island.
Read more »