Uncle Sam Going to War With AI

Enjoy this brand-new feature… Published By Money & Markets, LLC. June 10, 2024 Published By Money & Markets, LLC. June 10, 2024 [Turn Your Images On] 5 Things You Need to Know This Week We're kicking off a new weekly feature in today's edition of the Money & Markets Daily… It's impossible to keep up with everything going on in financial markets and the economy these days. So let's get your week started right with a dive into the most significant trends and opportunities you need to know about now. 1. Uncle Sam Going to War With AI Just when you thought life was going to be easier with artificial intelligence (AI), in steps the biggest bad guy of them all to slow things down: the U.S. government. The Justice Department and Federal Trade Commission plan to start investigating Microsoft Corp. (Nasdaq: MSFT), Nvidia Corp. (Nasdaq: NVDA) and ChatGPT parent company OpenAI regarding their roles in the AI industry. On the surface, the investigation will focus on antitrust law violations. After all, NVDA is the biggest maker of AI chips, OpenAI kicked down the AI door back in November 2022 when it launched ChatGPT to the masses and MSFT backed up a Brinks truck and unloaded $13 billion into OpenAI. These three companies — one of which isn’t even publicly traded — are just the tip of the iceberg when it comes to the AI market: [Turn Your Images On] Last year, the global generative AI market was valued at $45 billion. By 2030, that value will jump 361% to $207 billion. I guess just being first to market means you’re entitled to a federal investigation. 2. Adam’s Favorite AI Play Makes Big Jump Back in March 2024, Adam wrote an essay about how the “Titan of Tech" is behind the premier AI software company in the world. Because the AI revolution is advancing at lightspeed, Adam recommended this powerful company… as a play into this revolution. Last week, the company landed ANOTHER government contract. On Thursday, shares jumped nearly 4% and are up more than 3% since Adam’s recommendation. [Now might be a great time to buy into this AI powerhouse.]( --------------------------------------------------------------- [Turn Your Images On]( [Look Who Fired the World’s Richest Man]( When it comes to making money, the “Titan of Tech” doesn’t mess around. Known to his friends as Pete, the eccentric billionaire ousted a young Elon Musk from the company they co-founded and took his job … while Musk was away on honeymoon. Under Pete’s leadership, the company grew exponentially, turning his small $1,700 investment in the company into $55 million — a 3,250,000% gain in just 3 years. Now, he’s about to eat Elon’s lunch again … only this time, it’s with [a company on the cutting edge of the $200 TRILLION AI revolution.]( Today, you can snap up shares for just $25 a piece. [Get the full story here.]( --------------------------------------------------------------- 3. Apple Adds to Global Smartphone Market Share NVDA’s meteoric rise as the leader in AI chips not only drew the U.S. government's attention but also that of Apple Inc. (Nasdaq: AAPL) … not for the reason you might think. Due to its share price growth, NVDA passed AAPL as the second-most valuable company in the U.S. But don’t be too quick to shed a tear for the smartphone giant: [Turn Your Images On] In 2018, Apple led the smartphone market, but Samsung was gaining ground. Last year, Apple increased its global smartphone market share to 52.4% ... more than three times greater than its Korean counterpart. 4. The Glitch That Cost Warren Buffett Billions Main Street Americans hardly shed a tear when they read news that a billionaire lost massive amounts of money. A technical glitch on the New York Stock Exchange recorded a 99.97% drop in the share price of Warren Buffett’s Berkshire Hathaway Class A shares (NYSE: BRK.A), along with 40 other symbols on the exchange. For nearly two hours, BRK.A shares showed a price of $185.10 — a 99.97% drop from its actual listed price of $603,718.30. Buffett owns 227,416 shares of Class A stock that had a value of $137.3 billion (at its regular stock price). At $185.10 per share, that value dropped to $42.1 million. You do the math. While there’s no solid explanation for the technical glitch, it was fixed two hours later, and prices for the impacted stocks were back at their levels before the glitch was found. 5. Apple's AI Aspirations Today's the day… Apple is potentially gearing up to reveal its "AiPhone" at the company's Worldwide Developers Conference (WWDC) keynote event in just a few hours. We touched on it last week, but if you're wondering how to invest as Apple unveils its plan for the next phase of the AI revolution, you need to see what our colleague and tech expert, Banyan Hill's Ian King, has to say… He’s revealing three AI stock recommendations that will profit from Apple’s AI play. [Click here to watch his brand-new presentation before Apple's big announcement at 1 p.m. ET today.]( — Money & Markets Team --------------------------------------------------------------- Check Out More From Money & Markets Daily: - [RETAIL STOCKS … IN THIS ECONOMY?!]( - [AAPL IS READY TO TAKE THE AI CROWN]( - [WHAT THIS $40,000 IPHONE SAYS ABOUT APPLE’S LEGACY]( --------------------------------------------------------------- [Turn Your Images On]( Privacy Policy The Money & Markets, P.O. Box 8378, Delray Beach, FL 33482. To ensure that you receive future issues of Money & Markets, please add info@mb.moneyandmarkets.com to your address book or [whitelist]( within your spam settings. For customer service questions or issues, please contact us for assistance. The mailbox associated with this email address is not monitored, so please do not reply. 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Likewise, past performance is no guarantee of future returns. Certain investments carry large potential rewards but also large potential risk. Don't trade in these markets with money you can't afford to lose. Money & Markets permits editors of a publication to recommend a security to subscribers that they own themselves. However, in no circumstance may an editor sell a security before our subscribers have a fair opportunity to exit. Any exit after a buy recommendation is made and prior to issuing a sell notification is forbidden. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. (c) 2024 Money & Markets, LLC. All Rights Reserved. Protected by copyright laws of the United States and treaties. This Newsletter may only be used pursuant to the subscription agreement. 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