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Today in the Market (10/31/2023)

Happy Halloween! On this spooky Tuesday, US equities are on track for their third consecutive month of declines, concluding Tuesday’s trading session with gains as investors assessed recent consumer sentiment data and anticipated the Federal Reserve’s forthcoming policy announcement on Wednesday.

There was similar performance across the board with the S&P 500 up 0.65%, the Nasdaq Composite increasing 0.48%, and the Dow Jones gaining 0.38% to end October. 


AMD (AMD) released its third-quarter financial results on Tuesday after the market closed; however, investors were not fully satisfied. Although it exceeded expectations in terms of revenue and profit, it fell short in terms of its Q4 forecast

  • Revenue: $5.8 Billion vs. $5.7 billion expected
    • Q4 Revenue Outlook: $6.1 Billion vs. $6.4 billion expected
    • Adj. Operating Margin: 22% vs. 21.6% Expected
  • Earnings Per Share: $0.70 vs. $0.68 Expected

What has been helping AMD? Recently, the firm has benefited from a revival in its core business, which involves manufacturing the primary processors (CPUs) used in personal computers. A significant buildup of surplus inventories made  a period of decline in the sector worse

What to watch out for! The chip manufacturers will need to negotiate through newly implemented stringent regulations on the export of their chips to China, which happens to be the biggest market for semiconductors. If you did not know, the  administration has implemented strict measures to restrict the transportation of such goods, stating that it is done to safeguard the national security of the U.S.


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Artificial intelligence is often regarded as the most thrilling advancement in technology since the introduction of the internet. However, this comes with a substantial drawback in the form of increased energy usage. As a result, an engineer is now developing methods to harness the ocean’s sustainable energy to store and process data under the water’s surface.

Maxie Reynolds is the CEO of Subsea Cloud, a firm that specializes in the construction, implementation, and upkeep of subsea data centers. According to her, they are now in the developmental phase, with sites situated in the North Sea and along the shores of New Zealand and Malaysia. The concept of submerging data centers underwater is intended to minimize the energy consumption of these buildings and decrease data latency, which refers to the time it takes for information to be sent between locations.

Why is it needed? Experts in the industry concur that the increasing use of data worldwide is fueling the need for further environmentally-friendly energy solutions. According to one estimate, the energy consumption of the sector has increased by 25% each year from 2015 to 2021. Hence, the major companies in the business, such as Microsoft, Google, and Amazon, are at the forefront of investing in renewable energy and committing to achieving net zero emissions, which entails offsetting their carbon output.

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