1. Nvidia captures a significant portion of all data center capital expenditures. The company expects the big four AI hyperscalers to spend around $600 billion this year, with projected worldwide data center capital expenditures reaching $3-4 trillion by 2030.
2. Taiwan Semiconductor’s chips are crucial in powering AI technology. The company is set to launch new technologies that improve power consumption by its chips, with upcoming 2nm chips offering a 25-30% power consumption improvement over current 3nm chips.
3. Demand for ASML’s machines will rise with the growth in chip production capacity. ASML manufactures extreme ultraviolet lithography machines essential for chip production, giving the company a technological monopoly in the industry. With the stock down around 30%, ASML presents an excellent long-term value investment opportunity. 1. The stock market reached record highs today, with the S&P 500 closing at 4,500 for the first time. This milestone comes amid strong corporate earnings and positive economic data, signaling confidence in the market.
2. The Labor Department reported that jobless claims fell to a pandemic low of 348,000 last week, a positive sign for the labor market. This decrease suggests that businesses are hiring and the economy is recovering from the impact of COVID-19.
3. The Federal Reserve announced that it will begin tapering its bond-buying program in November, reducing its monthly purchases by $15 billion. This move is seen as a step towards normalizing monetary policy and addressing concerns about inflation.
4. In international news, UNICEF reported that over 100,000 children have been displaced in Afghanistan since the Taliban takeover. The humanitarian crisis in the country continues to worsen, with many families facing food shortages and limited access to healthcare.
5. In technology news, Apple unveiled its new iPhone 13 lineup, featuring improved cameras, longer battery life, and a faster A15 Bionic chip. The company also announced updates to its iPad and Apple Watch models, highlighting its commitment to innovation and customer satisfaction.
Read more at Nasdaq: 3 Dominant Artificial Intelligence (AI) Stocks That I’m Buying Now and Planning to Hold Forever