6 great tech products for your summer fun
With the help of a few smarty pants at The Washington Post, I've assembled a list of gear or technology services that can take your summer to the next level. You might still be able to snag one of these for Father's Day, too.
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Bloomberg
28 minutes ago
- Bloomberg
Anthropic Draws Investor Interest at More Than $100 Billion Valuation
OpenAI rival Anthropic is in the early stages of planning another investment round that could value the company at more than $100 billion, according to a person familiar with the matter. The artificial intelligence startup is not formally fundraising, said people with knowledge of the situation, who asked not to be identified discussing private information. But pre-emptive funding offers from VCs for the top artificial intelligence companies have become the norm in Silicon Valley, and investors have approached Anthropic indicating that they'd invest at a valuation over $100 billion, the people said.
Yahoo
an hour ago
- Yahoo
One chart shows why the stock market could be in a bigger bubble than the dot-com boom
The S&P 500 might be in a bubble larger than the dot-com boom, Apollo's Torsten Slok says. The top economist pointed to higher valuations in the top 10 S&P 500 companies compared to the 1990s. Wall Street has debated whether the stock market is in a bubble in the years since the AI boom took off. The stock market may be in a bubble that rivals the one seen during the dot-com boom. That's according to Torsten Sløk, the chief economist of Apollo Global Management, who said on Wednesday that the top firms in the S&P 500 are "more overvalued" than the top companies during the peak of the internet stock craze in the late 1990s and early 2000s The top 10 names in the benchmark index are trading at a 12-month forward price-to-earnings ratio of around 25, according to Sløk's analysis. That suggests companies are priced at a slightly higher premium than they were two decades ago, he wrote in a note on Wednesday. "The difference between the IT bubble in the 1990s and the AI bubble today is that the top 10 companies in the S&P 500 today are more overvalued than they were in the 1990s," Slok wrote. Talk of a bubble has been on the rise for years on Wall Street, ever since the debut of ChatGPT at the end of 2022 set off a frenzy for AI in the stock market. The market has all the ingredients for a stock bubble, with the exception of a more dovish Federal Reserve, strategists at UBS wrote in a note last week. Once the central bank resumes cutting rates, the conditions for a bubble should all be present, the bank said. "We up the probability of a Bubble scenario to 25% for end-2026 and acknowledge a risk that this is too low," the strategists wrote. In early July, Citi said it believed stocks would continue to outperform, thanks to an AI bubble forming in equities. "Our hunch would be a possible bubble in AI related stocks may well only peak around half a year before the capex spent in USD peaks," analysts wrote, referring to capital expenditures related to AI. In June, market veteran Ed Yardeni said he believed the market could be entering "melt-up mode," a state in which stocks see a rapid rise that proves to be ultimately unsustainable. "It's a bit hard to believe, but the main risk at this time may be a stock market meltup, i.e., a speculative bubble," he wrote, pointing to the S&P 500 notching a fresh record that month. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
OpenAI lists Google as cloud partner amid growing demand for computing capacity
(Reuters) -OpenAI has included Alphabet's Google Cloud among its suppliers to meet escalating demands for computing capacity, according to an updated list published on the ChatGPT maker's website. The artificial-intelligence giant also relies on services from Microsoft, Oracle, and CoreWeave. The deal with Google, finalized in May after months of discussions, was first reported by Reuters citing a source in June. The arrangement underscores how massive computing demands to train and deploy AI models are reshaping the competitive dynamics in AI, and marks OpenAI's latest move to diversify its compute sources beyond its major supporter Microsoft, including its high-profile Stargate data center project. Earlier this year, OpenAI partnered with SoftBank and Oracle on the $500 billion Stargate infrastructure program and signed multi-billion-dollar agreements with CoreWeave to bolster computing capacity. The partnership with Google is the latest of several maneuvers made by OpenAI to reduce its dependency on Microsoft whose Azure cloud service had served as the ChatGPT maker's exclusive data center infrastructure provider until January. Google and OpenAI discussed an arrangement for months but were previously blocked from signing a deal due to OpenAI's lock-in with Microsoft, a source had told Reuters. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
