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Today in the Market (4/9/2024)

Good Morning! On Tuesday, the U.S. market ended the trading session with a volatile but uneventful day of gains and losses. Investors are eagerly awaiting the crucial inflation report that comes out tomorrow.

The S&P 500 spent the majority of the day in the red and pulled through with a gain of 0.14%, with the NASDAQ doing the same thing and increasing by 0.32%. The Dow Jones, however, could not hang on and fell by 0.02%.


During the Intel Vision event, Intel (INTC) introduced a new AI chip that directly competes with one of Nvidia’s (NVDA) highly sought-after AI processors.

The stats! When it comes to training and implementing generative AI models, the Gaudi 3 chip meets and surpasses Nvidia’s H100 AI processor. The H100 AI processor is so popular that tech firms like Microsoft (MSFT) and Google (GOOG, GOOGL) use it. But how great is the Gaudi 3 chip compared to the H100 AI processor?

  • Power Efficient: 40% more power efficient vs. Nvidia
  • Inferencing: 50% faster vs. Nvidia
  • Training: 1.7 times faster vs. Nvidia and 1.3 times faster vs. H200 processor

What else? In an effort to maintain processing and communications, Intel also unveiled a new Ethernet networking option for Gaudi 3 nodes, competing with Nvidia’s InfiniBand technology. Intel also unveiled its Xeon 6 CPUs, which are intended for use in AI systems.


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President Biden proposed a new proposal that would reduce the burden of student debt on borrowers. The initiatives announced represent a revised version of Biden’s prior attempt to cancel student loans, which the Supreme Court rejected last summer, and benefit about 30 million Americans.

So what changed? The new plan focuses on senior borrowers and those burdened with debt resulting from accumulated interest. If the plan successfully overcomes the anticipated legal obstacles, it will do the following:

  • Offer assistance to those with outstanding federal loans beyond their original loan amount.
  • Cancellation of up to $20,000 in interest, irrespective of income.
  • Completely erase the debt of those who have been consistently making loan payments for over 20 years.
  • Reduce debts for those who did not gain “sufficient financial value” from their studies as a result of certain concerns with the quality of education.
  • Individuals who may qualify for loan forgiveness programs but have not yet applied.

Big picture! While Biden’s initiatives for debt relief mostly benefit those who completed their degree in the past, current and prospective students concerned about future debt might find comfort in the fact that the majority of people do not ultimately pay the full cost of their education.

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