Social media refers to digital platforms and applications for the creation, sharing, and exchange of user-generated content, ideas, and information. These platforms connect people, enabling them to interact, communicate, and build online communities. Popular social media sites include Facebook, X (Twitter), Instagram, LinkedIn, and TikTok, among others. Social media companies leverage their large user bases for potential advertising revenue, data-driven analytics, global marketing reach, and their role in driving digital innovation and social transformation.
Microsoft and Meta continue to increase investment in AI, with cloud spending reaching a new historical high. | AI Dehydration
According to market consensus expectations, global cloud vendor capital expenditures are expected to reach $227 billion in 2024, a year-on-year increase of 39%, reaching a historical high. AI chips, AI networks, HBM memory and server CPUs will benefit.
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Just 1 on 4 AI Tasks Will Be Cost Effective in 10 Years - MIT Professor
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.
Meta's 34% Year-to-Date Surge and a 5% Stake in EssilorLuxottica Transform Ray-Ban Smart Glasses and Reshapes Its Stock Trajectory
Meta has purchased a 5% stake in EssilorLuxottica for 4.33 billion euros.Market analysts remain optimistic about the growth potential of Ray-Ban smart glasses as Meta continues to enhance its
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