WIMI Rises over 8% in New Track as Artificial Intelligence Enters Multimodal Era

EST Tuesday, the three major U.S. stock indexes showed a unilateral upward trend throughout the day, continuing the recent strong performance.

As of the close, the Dow Jones index rose 0.68%, at 37,557.92 points; S&P 500 index rose 0.59%, at 4,768.40 points; Nasdaq index rose 0.66%, at 15,003.22 points. The Dow Jones and the Nasdaq index rose for nine consecutive trading days, the Dow Jones has five consecutive trading days to refresh the record high.

Most of the large technology stocks rose, Apple (AAPL) rose 0.54%, Microsoft (MSFT) rose 0.16%, Tesla (TSLA) rose 2.04%, Google (GOOG) rose 0.63%, Amazon (AMZN) fell 0.18%, Meta (META) rose 1.67%, Nvidia (NVDA) fell 0.94%, and Neflix (NFLX) rose 1.83 percent.

Hot Chinese stocks rose, NASDAQ China Golden Dragon Index rose 1.81%, WiMi Hologram Cloud (NASDAQ: WIMI) closed up 8.06%, Alibaba (BABA) rose 2.10%, JD.com (JD) rose 3.60%, Pinduoduo(PDD) rose 1.13%, Nio(NIO) rose 5.63%, the two-day cumulative rise of 10%, XPENG (XPEV) rose 3.28%, Li Auto(LI) rose 2.80%, Bilibili (BILI) rose 3.33%, Baidu (BIDU) rose 2.10%, NetEase (NTES) rose 0.30%, Tencent music (TME) rose 0.23%, iQIYI(IQ) rose 1.51%.

Artificial Intelligence Enters Multimodal Era, WiMi (NASDAQ: WIMI) Taps Emerging Blue Ocean Track to Close 8.06% Higher

By the end of the day, WiMi (NASDAQ: WIMI) shares closed up 8.06 percent to $0.778 on a volume of 432,400 shares.

Indeed, 2023 is the year that AI technology, represented by the Big Model, goes wild. There is no other technological revolution like big models that can make everyone quickly form a consensus in such a short period and develop at a speed of a thousand miles a day. Throughout the world, OpenAI has led Google, Meta, Microsoft and other companies to re-engage in the battle in the field of AI, and of course, Micromax Holography has also entered the game strongly.

It is reported that WiMi is a global leading AI visualization enterprise, which is committed to becoming the market leader in various segments of technology services. Currently, WiMi has made new progress from the evolution of content communities to the evolution of smart cars, to AR spatial computing, robotics, brain-computer interfaces, etc. The company is accelerating product innovation on all fronts, triggering a new round of technological outbreaks.

At the same time, as a builder of technology commercialization, WiMi is also thinking and innovating more from the perspective of overall development, and the industry progress it has made is not only reflected at the technology and product level, but also involves all-round breakthroughs in industrial layout, application innovation and effective governance.

WiMi focuses on basic models as well as AI native applications, believing that AI is entering the multimodal era, and multimodal learning may be the frontier of the future, thus strengthening the future training target to be more comprehensive, including text and other multimodal perceptual information, so as to make the big model more comprehensive and present a vigorous development trend.

AI has indeed pressed the accelerator button once again for all walks of life, and a new round of revolution in the multimodal era has been initiated. The road to the development of technology in the multimodal era is long but promising, showing great potential. For WiMi, stimulating the passion for potential applications, actively embracing the wave of innovation brought about by the multimodal era, and striving to make breakthroughs in technology and application areas will create more value for the entire human society.

Apple (AAPL) announced in a statement that it will soon stop selling its flagship Apple Watch model in the United States. Starting later this week, the Apple Watch Series 9 and Apple Watch Ultra 2 will no longer be sold by Apple. The announcement comes after the U.S. International Trade Commission (ITC) ruled on a long-running patent dispute between Apple and medical technology company Masimo surrounding the Apple Watch’s blood oxygen sensor technology.

Google has agreed to pay $700 million to settle and allow stiffer competition on its Play app store, according to the terms of an antitrust settlement disclosed in U.S. federal court in San Francisco. Previously, Google was accused of overcharging consumers by illegally restricting app distribution on Android devices and charging unnecessary fees for in-app transactions.

Under the settlement agreement, Google will pay $630 million into a consumer settlement fund and $70 million into a fund used by states. Eligible consumers will receive at least $2 and may receive additional compensation based on spending on Google Play between Aug. 16, 2016, and Sept. 30, 2023, the settlement agreement says. The settlement still needs final approval from a judge.

Coupang (CPNG) said Tuesday that it will acquire U.K. online luxury fashion retailer Farfetch Holdings (FTCH), a move that will give Coupang a leading position in the $400 billion global personal luxury goods market.

The deal will provide Farfetch with $500 million in funding to continue operations, Coupang said in a statement. Coupang CEO Bom Kim said in the statement, “Farfetch is a milestone in the luxury industry, a transformative force that proves that online luxury is the luxury retail’s future.”

Jose Neves, founder and CEO of Farfetch, said, “Coupang’s proven track record and extensive experience in revolutionizing commerce will enable us to provide exceptional service to our brand and boutique partners, as well as to millions of customers around the world.”

Steel (X) closed up over 26%, we learned. Nippon Steel Corporation (NSC) is Japan’s largest steelmaker, and U.S. Steel is also a steelmaker with competitive advantages in the steel industry such as low-cost iron ore, short-process steelmaking and best-in-class finishing capabilities.

According to the news announcement, they have reached a definitive agreement that Nippon Steel will acquire U.S. Steel in an all-cash transaction for $55.00 per share, which equates to an equity value of approximately $14.1 billion, and with the debt to be assumed, the total value of the company is $14.9 billion. The deal has been unanimously approved by the boards of Nippon Steel and U.S. Steel.

On December 19, McDonald’s Corporation and Accenture announced the expansion of their strategic partnership to help McDonald’s execute its strategy of applying artificial intelligence-generated solutions to its global restaurants using the latest technology to improve operations and the customer and employee experience.

Goldman Sachs upgraded shares of Atlas Solar (CSIQ) from Sell to Neutral with a $25 price target. The bank noted that the stock is now more reasonably valued after falling following the company’s third-quarter results and updated 2024 financial forecasts. The bank added that it now sees a more balanced risk-reward profile for the stock.