Musk 'betrays' Silicon Valley! Supporting the California AI regulation bill that promotes 'collective punishment'.
① California will vote on the AI regulation bill SB-1047 at the end of August. Once passed, it will be signed into California law. ② Its strict regulations are a concern for AI companies in Silicon Valley, including OpenAI, Meta, Alphabet, as well as many scientists who have expressed opposition to the bill. ③ However, AI owner Musk has expressed support!
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Is the rebound fading? Goldman Sachs: Hedge funds are selling stocks at the fastest pace in more than two years.
In August, 'smart money' is selling global equities at the fastest pace since March 2022, with the most net selling in North America. Hedge funds are skeptical of the sustainability of the stock market rebound, and geopolitical concerns continue to be worrying. The 'fly' of the economic situation may soon hit the glass windshield.
Vanguard Group warns: US technology stocks are seriously overvalued, people are too optimistic about the prospects of AI.
① Chief Economist of Pioneer Group wrote in the report that the market's expectations for artificial intelligence technology seem to be somewhat excessive. ② He warned that Wall Street's optimism about the economic growth and corporate profit increase brought by artificial intelligence technology has led to overvaluation of US technology stocks.
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