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Google leads a watch list of five stocks near buy points amid market volatility, including CyberArk, Doximity, Sea Ltd., and ACV Auctions. The market reacted to a calming inflation report, but concerns over the Federal Reserve's interest-rate outlook and political developments remain. Analysts see potential benefits for these stocks, particularly Google, if TikTok faces a ban.
Tech leaders, including Jeff Bezos of Amazon, Mark Zuckerberg of Meta, and Sundar Pichai of Alphabet, are actively engaging with Donald Trump to navigate potential challenges posed by his administration. Bezos praised Trump's newfound calmness, while Zuckerberg reflected on his own reactions to recent events, and Pichai expressed optimism about future innovations under Trump's leadership.
Stocks turned lower in late-morning trading, with the S&P 500 and Nasdaq Composite down 0.1% and 0.2%, respectively, while the Dow Jones Industrial Average remained flat. Broadcom's strong earnings initially boosted chip stocks, but major tech companies like Apple and Microsoft saw losses. As the market anticipates a Federal Reserve rate cut next week, the yield on 10-year Treasurys rose to 4.38%.
Google has launched Gemini 2.0, enhancing its AI capabilities with multimodal features and improved reasoning, while Anthropic introduced Claude 3.5 Haiku, a faster model excelling in coding tasks. Both services are priced at $20 monthly, competing directly with OpenAI's offerings. Gemini 2.0 includes advanced tools for research and a new AI assistant, Astra, aiming to redefine user interaction with AI.
Google's new Willow quantum processor, capable of performing complex calculations in minutes, has sparked discussions about its potential to compromise Bitcoin's security. However, analysts assert that the technology is still years away from posing a real threat, as it currently lacks the necessary qubits to challenge the Bitcoin network. The blockchain industry is actively exploring quantum-resistant solutions to safeguard against future risks.
Stocks closed lower as investors awaited the upcoming Consumer Price Index report, with the Nasdaq Composite down 0.25%, S&P 500 down 0.30%, and Dow Jones down 0.35%. Alphabet's GOOGL surged 5.6% following the introduction of its quantum computing chip, Willow, while Oracle and MongoDB faced significant declines after disappointing earnings and management changes.
Hyperbolic has secured $12 million in a Series A funding round led by Variant and Polychain Capital, bringing its total funding to $20 million. The San Francisco-based startup is developing a decentralized GPU marketplace and AI inference services, addressing the need for affordable computing power. With plans to launch its own blockchain in 2025, Hyperbolic aims to enhance AI infrastructure governance and is already serving major players like Hugging Face and Stanford.
US stocks opened mixed, with the Nasdaq gaining 0.42% driven by a 4.7% rise in Google after its new quantum computing chip announcement. The Dow fell 0.33%, while Oracle's shares dropped 8.4% due to disappointing quarterly profits. Alaska Air Group surged 14% on a positive earnings outlook, and Boeing rose 2.8% after resuming 737 MAX production.
Google's new quantum chip, Willow, has sparked concerns about Bitcoin's cryptographic security, as it significantly reduces error rates and handles complex tasks. While experts like Ben Sigman assert that current quantum capabilities are insufficient to threaten Bitcoin, others, including Charles Edwards, warn that advancements in quantum computing could pose a real risk if Bitcoin's cryptography isn't upgraded soon. The debate highlights the urgent need for proactive measures in the face of rapidly evolving technology.
Google's Willow quantum chip, introduced by CEO Sundar Pichai, marks a significant advancement in quantum computing with 105 qubits and error reduction capabilities. This breakthrough has sparked discussions in the crypto community regarding Bitcoin's cryptographic security, highlighting the urgent need for post-quantum encryption within the next decade. Experts assert that while Bitcoin remains secure for now, proactive measures are necessary, especially for early-minted coins using the vulnerable Pay-to-Public-Key format.
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