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Today in the Market (5/23/2023)

Good Evening! On Tuesday, the US stock market experienced a decline due to worries among investors regarding the ongoing debt-ceiling negotiations in Washington, which are yet to be resolved.

The S&P 500 closed the session down by 1.12%. The Dow Jones experienced the smallest decline of 0.69%. The Nasdaq Composite fell the most by 1.26%.

ITS HAPPENING

Netflix (NFLX) has confirmed that it will be implementing the crackdown in all regions worldwide, including the UK, France, Germany, Mexico, Brazil, Singapore, Australia, and others, but the big one is the addition of the United States.

So how does it work? Netflix accounts are intended for the use of a single household. All members of the household have the ability to access Netflix from any location, whether they are at home, traveling, or on vacation. Additionally, they can utilize the latest features such as Transfer Profile and Manage Access and Devices, which are listed below:

  • Manage Devices: This will allow you to review the devices that are currently signed in to your account and sign out any that you no longer want to have access to.
  • Transfer a profile: Any individual who has access to your account can transfer a profile to a new membership that they will be responsible for paying.
  • Lastly, For an additional $7.99 per month, it is possible to share your Netflix account with someone who does not reside with you.

In the long run… Although users have voiced their concerns, Wall Street analysts have maintained a positive outlook on the initiative, highlighting its potential as a growth driver in the long run

WILL CHAT GPT BECOME STRONGER?

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Microsoft (MSFT) and OpenAI have recently announced their increased collaboration, with the integration of Microsoft’s Bing search engine into OpenAI’s ChatGPT. The announcement has the potential to expand the user base of Bing and consequently enhance its market share.

How will this help? Yusuf Mehdi, the CVP and Consumer Chief Marketing Officer at Microsoft, has stated that the integration will enable ChatGPT to offer more current responses to user inquiries than it could on its own. At present, ChatGPT is not designed to gather fresh data from the internet. Instead, it has been programmed to learn from a particular set of data.

What’s Mircosoft’s overall goal? The corporation has explicitly stated its intention to gradually acquire portions of Google’s market share. However, according to Microsoft’s analysis, the value of a 1% market share in the search market is estimated to be approximately $2 billion.

Google is not the only threat in the AI world… Microsoft’s generative AI plans face threats beyond Google. Fortune reports that Apple (AAPL) is increasing its workforce for generative AI efforts, while Meta (META) is also making significant investments in this field.

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