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Asian shares mostly rose, buoyed by a Wall Street rally led by Nvidia, with Japan's Nikkei 225 jumping 2.2%. However, Hong Kong's Hang Seng index fell 1.9% due to a significant drop in Tencent shares following U.S. sanctions. U.S. Steel gained 8.1% after filing a lawsuit against the Biden administration's block of a merger with Nippon Steel, which also saw a decline in its stock.
Asian shares mostly rose, buoyed by a Wall Street rally led by Nvidia, with Japan's Nikkei 225 up 2.4%. U.S. Steel surged 8.1% after filing a lawsuit against President Biden's merger block, while investors await potential policy shifts under President Trump. The S&P 500 gained 0.6%, and the Federal Reserve's upcoming minutes and jobs report are anticipated to impact markets.
OpenAI CEO Sam Altman anticipates the introduction of the first AI agents into the workforce this year, with significant advancements towards artificial general intelligence (AGI) expected by 2025. These autonomous AI systems are designed to make decisions and execute complex tasks with minimal human input. Altman envisions that superintelligent tools could greatly enhance scientific discovery and innovation, leading to increased prosperity.
U.S. stocks closed higher on Friday, but all major indexes posted weekly declines, with the S&P 500 marking its third loss in four weeks. This week, focus shifts to the U.S. employment report and the Federal Reserve's meeting minutes, while Advanced Micro Devices (AMD) is highlighted as a buy ahead of its CES 2025 GPU showcase, and Constellation Brands is recommended as a sell due to disappointing earnings.
AMD's stock price fell 17% in 2024, contrasting sharply with Nvidia's 171% rise, despite AMD's strong earnings and innovation. Analysts cite AMD's lag in AI technology and the shift of major cloud players towards custom chips from competitors like Marvell and Broadcom as key challenges.
Nvidia's stock surged 5.4% last week, signaling a strong market comeback as CEO Jensen Huang prepares for a pivotal CES 2025 keynote on AI chips. Despite mixed signals in the broader market, leading stocks like Taiwan Semiconductor and Tesla showed resilience, with many triggering buy signals as 2025 begins. Investors are advised to approach new positions cautiously, monitoring upcoming economic reports and tech developments.
Stocks surged in mid-afternoon trading, with the Dow Jones up 0.8% and the S&P 500 and Nasdaq gaining 1.2% and 1.6%, respectively, as large-cap tech companies led the rally. Nvidia and Tesla both rose about 5%, while Apple faced a slight decline. U.S. Steel shares dropped 6% after a blocked sale, and alcohol-related stocks fell following health warnings about cancer risks.
Nvidia has launched the Jetson Orin Nano Super, a compact AI computer priced at $249, offering a 70% performance boost with 67 trillion operations per second. It features a 6-core ARM processor and 102 GB/s memory bandwidth, enabling simultaneous processing of multiple AI applications and camera feeds while consuming only 7 to 25 watts of power. This device is aimed at developers and hobbyists for prototyping and small-scale applications, enhancing capabilities for robotics and AI tasks.
2024 was a remarkable year for investments, with the S&P 500 rising 27% and stocks reaching new highs, largely fueled by AI advancements. Key performers included Nvidia, NatWest, cocoa, gold, and tin, each benefiting from unique market dynamics and supply challenges. As we look to 2025, maintaining a diversified portfolio and a long-term perspective remains crucial amidst ongoing market volatility.
Broadcom's stock surged 24%, propelling its market cap past $1 trillion for the first time, following strong fourth-quarter results that exceeded expectations. The company reported $14.05 billion in revenue, with AI revenue skyrocketing 220% to $12.2 billion, as CEO Hock Tan announced custom AI chip developments for major cloud clients. Analysts expressed optimism about Broadcom's AI prospects, raising price targets and reiterating buy ratings despite competitive challenges.
Jensen Huang
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Asian shares rise as Nvidia leads Wall Street rally amid market optimism
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