This is no longer a one way ride
Not that I know the difference between a TPU (Tensor Processing Unit) and a GPU (Graphic Processing Unit) nor one GenAI model from another but we are being reminded again as to how competitive and quickly changing technology is. Up until a few years ago, Google and Meta were essentially advertising companies. Amazon was a retailer. Business of course evolved where it started with cloud, but now with GenAI and semiconductors, and they are all now swimming in the same technological waters along with the pure play tech companies, particularly Nvidia. Such fascinating times that we also benefit from as a user of this technology. That said, with the Google ecosystem that they are creating, vertically, it opens up a whole new competitive dynamic with the ‘too big to fail’ OpenAI world that so many companies are now so dependent on, especially Oracle. Investors are clearly in the process of shifting from GenAI being one big trade, to now trying to figure out who will win and who will not.
With the September economic data now being released I’m not going to bother writing about as we’re just about two months past it.
Yesterday, the November Dallas manufacturing index remained in contraction at -10.4 vs -5 in October and vs the estimate of -2.0.
Here were the notable comments from companies in a variety of industries:
