Tesla Rival BYD Strengthens Smart Driving Tech With Former Baidu Executive: Report
US stocks closed with all three major indices falling, with the S&P Nasdaq index seeing its largest weekly decline in three months. Technology stocks weakened, with Tesla down more than 4%, Nvidia down more than 2%, and CrowdStrike down more than 11%.
Investors accelerated their escape from technology stocks, with stocks and bonds in Europe and the United States being hit hard for two days. This week, the S&P 500 and Nasdaq fell by about 2% and 3.7%, respectively. The Nasdaq stopped its six-week continuous rise, while the Dow and small-cap indices rose by 0.7% and 1.7%, respectively. Chip stocks fell more than 3% on Friday and nearly 9% for the week. Nvidia also fell more than 8.7% for the past three months, making it the worst performer. The "seven sisters of technology" all fell for the week, and cybersecurity leader Crowdstrike, which triggered a global technology outage, fell 11% on Friday, the worst in nearly two years. The VIX panic index rose more than 32% for the week.
"The most powerful and cost-effective"! OpenAI releases GPT-4o mini model.
Starting from Thursday, GPT-4o mini will be available to free users of ChatGPT, ChatGPT Plus, and team subscribers, and will be available to ChatGPT enterprise users next week. OpenAI plans to integrate images, videos, and audio into this model in the future.
The next trend for generative AI could be the TTT model.
The 'brain' of the Transformers architecture that supports models such as Sora is a lookup table and so-called hidden states. Unlike Transformers, TTT does not continuously grow as it processes more data. It replaces hidden states with machine learning models, like nested dolls of AI, which is within a model.
Peeling Back The Layers: Exploring Baidu Through Analyst Insights
Goldman Sachs "slapped in the face" JPMorgan: Profitable by 2025!
Goldman Sachs predicts that Luerbang Kuai Pao will achieve a balance of profits and losses in Wuhan in the next 2-3 quarters and will be profitable by 2025. In contrast, JPMorgan previously predicted that self-driving taxi services may still contribute little to Baidu's overall profits in the next 12 months.
Baidu Analyst Ratings
The business model of "Running Carrot"? JPMorgan has made a detailed calculation.
Recently, Baidu's self-driving travel platform, Apollo GO, has become popular, driving Baidu's Hong Kong stocks to rise by more than 12% on the 10th, the highest level in over a month. In response, JPMorgan has put forward its own opinion: the market for self-driving taxis from Baidu is too early and is not reasonable from the fundamental perspective. Therefore, the momentum of its stock price rise may weaken in the short term. However, analysts further pointed out that if Apollo GO business can improve its profitability, it is expected to achieve a city-level break-even in the second half of 2024: With the introduction of the next generation of vehicles and a significant change in the ratio of vehicle safety personnel, the next few quarters of Baidu's business may see an improvement.
Shares of Chinese Stocks Are Trading Higher Following an Increase in China's June Exports.
Guojun: Carrots Kuaipao business model verification, autonomous driving challenges the taxi industry.
Guojun said that the challenge to taxis from self-driving cars is theoretically feasible. In the future, with the increase in the number of deployments, the operating cost per vehicle will decrease significantly, and economies of scale may be realized. There is hope for Carrot Run to achieve profitability in the business model of self-driving online car-hailing.
After three days of bloodbath, Chinese concept stocks cost Wall Street billions! The Archegos liquidation case has resulted in Bill Hwang being convicted of fraud and market manipulation.
Three years ago, the Archegos crisis caused the market cap of Chinese concept stocks, such as Baidu, Tencent Music, and VIPShop, to evaporate more than 30 billion US dollars, and also caused investment banks such as Goldman Sachs and Morgan Stanley to suffer losses of billions.
"China ChatGPTs" struggle to attract customers.
Over a month ago, as Tencent officially launched the independent AIGC app 'Tencent Yuanbao', the 'BAT' finally gathered in the AI big model C-end product race track. In this AI application era, who can create the 'WeChat of the AI era' is highly anticipated.
Baidu Climbs After Beijing Proposes Draft Rules for Robotaxis - Report
China Dominates Global Generative AI Adoption As Local Startups Face Fierce Competition From The Likes Of Alibaba And Baidu
The Hang Seng Tech Index rose 2%, with the concept of self-driving cars bucking the trend and increasing significantly, and Baidu rose 10%.
The A-share market opens low, with self-driving cars and lithium mining concepts on the rise, Zhengzhou Tiamaes Technology and Dongjian Technology both hit the limit up. The Hong Kong stock market opens high and goes up, with network technology stocks leading the way and Baidu rising by 10%.
Options Market Statistics: Tesla Hits 10-Day Winning Streak, Closes at 9-Month High, Options Pop
US stocks hit new highs, with Nvidia up 4.4% leading the technology stocks, Tesla rising for ten consecutive days, and Apple having the highest market cap.
The Nasdaq and S&P 500 large caps hit a new intraday high again, while the Dow Jones weakened; the US stock market's "Seven Sisters" rose except Microsoft, with Nvidia leading the gains, up nearly 4.4%, while Tesla rose more than 2% for ten consecutive days; Apple rose more than 0.6% and still has the highest market cap; chip stocks generally gave back more than half of their gains after rising, Arm Holdings and KLA Corp hit new intraday highs again; Chinese concept stocks index rose.
US stocks hit new highs, with Apple's market cap surpassing Microsoft's, Tesla rising for the ninth consecutive day, silver futures falling by 3% at one point, and French stocks opening high and falling low.
Waiting for this week's US CPI and PPI inflation and Powell's congressional hearing. The New York Fed survey found that Americans' inflation expectations have fallen for two consecutive months, and the market is still betting on two interest rate cuts later this year. The S&P and Nasdaq have hit new highs for at least four days in a row, and Apple's market cap has surpassed Microsoft to become the largest company. Nvidia's increase has been cut in half after a nearly 4% increase, and TSMC briefly rose more than 4.8% in market cap, breaking the $1 trillion barrier. AI concept stocks such as Arm and Oracle also hit new highs and Intel and Super Micro Computer rose more than 6%. The Chinese concept stock index fell 1%, Xpeng Motors fell more than 6%, and Niu Technologies rose 16%. The second round of the French parliament elections unexpectedly ended without any political party obtaining an absolute majority, and European stocks rose but fell in the final session. The euro and French bond yields also opened high
Stock of the Day: Baidu — Will Buyer's Remorse Turn Support Into Resistance?
What's Going On With Chinese AI Stocks Alibaba, Baidu, JD On Friday?