Today in the Market (9/25/2023)

Good Evening! On Monday, equities on Wall Street rebounded, thus easing some concerns pertaining to the Federal Reserve’s policy of maintaining higher interest rates for an extended period.

All three indexes started the week off up with the Nasdaq increasing by 0.46%, the S&P 500 rising by 0.40%, and the Dow Jones gaining 0.13%

MORE AI TECH IN THE WORKS!

Amazon (AMZN) just announced its investment in Anthropic, a startup specializing in artificial intelligence, which is estimated at around $4 billion. This move reflects the ongoing trend among major technology companies to strengthen their collaborations in generative artificial intelligence.

$4 Billion is a big deal so what is going down? Anthropic intends to migrate a significant portion of its software infrastructure to Amazon Web Services, while also using Amazon’s processors for training its artificial intelligence models, which serve as the foundation for chatbots and other technological applications. The firm will provide Amazon with a partial ownership stake, and the investment from Amazon will give financial support to the development and deployment expenses associated with the creation of large-scale artificial intelligence models.

What else? This agreement emphasizes the significant goals of major technology companies in advancing AI technology, as well as their capacity to use their cloud computing capabilities to achieve AI objectives. Amazon’s decision is in line with Microsoft’s financial contributions ($10 Billion) to OpenAI, the developer of ChatGPT.  

DID SOMEONE ORDER SPACE ROCKS?

Photo Credit: (NASA/Keegan Barber)

Researchers successfully obtained around 8.8 ounces of rock and soil from the celestial body known as the asteroid Bennu, marking the first time that NASA has accomplished the collection of a sample from an asteroid. The conclusion of a 4-billion-mile voyage that started in 2016 was signified by the touchdown of the sample capsule in the Utah desert, having been delivered by the Osiris-Rex spacecraft from a distance of 63,000 miles.

What’s so important about this? The anticipation is in the expectation that the sample extracted from the asteroid would include crucial data pertaining to the start of our solar system, hence shedding more light on the beginnings of life on Earth. So far, there has been a widely accepted hypothesis, the collision of asteroids with Earth several billion years ago is believed to have brought essential components necessary for the emergence of life.

So what’s next? Over the course of the next two years, researchers will undertake an analysis of the rocks and soil, with the intention of providing a comprehensive understanding of their composition. In October, a preliminary report including select data about the sample will be made available to the public.

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