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TechCrunch
13 minutes ago
- TechCrunch
EU says it will continue rolling out AI legislation on schedule
The European Union on Friday said it will stick to its timeline for implementing its landmark AI legislation, in response to a concerted effort by over a hundred tech companies to delay the bloc's AI rules, Reuters reported. Tech companies from across the world, including giants like Alphabet, Meta, Mistral AI and ASML have been urging the European Commission to delay rolling out the AI Act, saying it will hurt Europe's chances to compete in the fast-evolving AI arena. 'I've seen, indeed, a lot of reporting, a lot of letters and a lot of things being said on the AI Act. Let me be as clear as possible, there is no stop the clock. There is no grace period. There is no pause,' the report cited European Commission spokesperson Thomas Regnier as saying. A risk-based regulation for applications of artificial intelligence, the AI Act bans a handful of 'unacceptable risk' use cases outright, such as cognitive behavioral manipulation or social scoring. It also defines a set of 'high-risk' uses, such as biometrics and facial recognition, or AI used in domains like education and employment. App developers will need to register their systems and meet risk and quality management obligations to gain access to the EU market. Another category of AI apps, such as chatbots, are considered 'limited risk' and subject to lighter transparency obligations. The EU started rolling out the AI Act last year in a staggered fashion, with the full rules coming into force by mid-2026.
Yahoo
16 minutes ago
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Here's Why Night Watch Investment Management Sold Its Stake in Remitly (RELY) in Q2
Night Watch Investment Management, an investment management firm, released its second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund LP appreciated by 23.31% net of fees, and YTD, its performance stood at 20.71%. The portfolio demonstrated resilience in the quarter, despite volatility in March and April. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Night Watch Investment Management highlighted stocks such as Remitly Global, Inc. (NASDAQ:RELY). Remitly Global, Inc. (NASDAQ:RELY) offers digital financial services for immigrants, their families, and other citizens. The one-month return of Remitly Global, Inc. (NASDAQ:RELY) was -11.40%, and its shares gained 48.59% of their value over the last 52 weeks. On July 3, 2025, Remitly Global, Inc. (NASDAQ:RELY) stock closed at $18.50 per share, with a market capitalization of $3.771 billion. Night Watch Investment Management stated the following regarding Remitly Global, Inc. (NASDAQ:RELY) in its Q2 2025 investor letter: "We follow a diverse set of industries and are able to rapidly reposition in case an external factor such as politics changes the winners and the losers. The proposed tariffs, as well as the tax legislation that is currently being negotiated by the US Senate, will impact some industries and we have repositioned accordingly. A senior banker shaking hands with migrant customers in a corporate boardroom. Remitly Global, Inc. (NASDAQ:RELY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Remitly Global, Inc. (NASDAQ:RELY) at the end of the first quarter, which was 35 in the previous quarter. The first quarter revenue of Remitly Global, Inc. (NASDAQ:RELY) increased 34% year-over-year to $361.6 million. While we acknowledge the potential of Remitly Global, Inc. (NASDAQ:RELY) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Remitly Global, Inc. (NASDAQ:RELY) and shared the list of stocks expected to beat the market by 20 Percentage points this year. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. While we acknowledge the potential of RELY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. 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
16 minutes ago
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What Makes Ares Management Corporation (ARES) a Long Term Investment?
Parnassus Investments, an investment management company, released the 'Parnassus Mid Cap Growth Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. The Russell Midcap Growth Index fell 7.12% in the first quarter, starting with a continuation of the late 2024 rally but later experiencing a sharp decline. The Fund (Investor Shares) fell -9.98% (net of fees) in the quarter, compared to the Russell Midcap Growth Index's -7.12% fall. Stock selection in Consumer Discretionary and Industrials contributed to the relative performance, while Communication Services and Health Care detracted. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Parnassus Mid Cap Growth Fund highlighted stocks such as Ares Management Corporation (NYSE:ARES). Founded in 1997, Ares Management Corporation (NYSE:ARES) is an alternative asset manager. The one-month return of Ares Management Corporation (NYSE:ARES) was 4.69%, and its shares gained 28.63% of their value over the last 52 weeks. On July 3, 2025, Ares Management Corporation (NYSE:ARES) stock closed at $177.96 per share, with a market capitalization of $58.12 billion. Parnassus Mid Cap Growth Fund stated the following regarding Ares Management Corporation (NYSE:ARES) in its Q1 2025 investor letter: "We also added four competitively advantaged, highly profitable and market-share-gaining companies whose stocks had sold off due to what we view as transitory issues. Ares Management Corporation (NYSE:ARES) is a fast-growing alternative asset manager with a leading private credit franchise. We don't know when the market will rebound, but we expect these new positions will lead the market higher whenever it does. A close up of a senior financial advisor reviewing a portfolio and making recommendations for an investor. Ares Management Corporation (NYSE:ARES) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Ares Management Corporation (NYSE:ARES) at the end of the first quarter, which was 43 in the previous quarter. While we acknowledge the potential of Ares Management Corporation (NYSE:ARES) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Ares Management Corporation (NYSE:ARES) and shared the list of stocks with high PE ratios that are getting dumped by insiders. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. While we acknowledge the potential of ARES as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
