All articles tagged with #ai optimism
Micron Technology's stock has surged over 252% in the past year driven by AI infrastructure optimism, but a discounted cash flow analysis suggests it may be overvalued by about 64%, raising questions about the sustainability of its high valuation.
Asian stocks rose, led by Japan reaching record highs amid optimism over AI and a dovish Japanese prime ministerial candidate, with tech stocks tracking U.S. gains; however, trading volumes were muted due to holidays, and concerns over U.S. government shutdown and political crises tempered risk appetite.
Palantir CEO Alex Karp dismisses fears that AI will eliminate skilled labor jobs, asserting that AI will instead enhance workers' roles and emphasizing the company's efforts to promote a positive narrative about AI's impact on employment through its 'Working Intelligence' campaign. He highlights the importance of correcting misconceptions to prevent societal polarization and plans significant investment in this initiative, amid Palantir's recent growth driven by its AI products.
Tech stocks continued to soar on Wednesday, with the Nasdaq 100 and S&P 500 reaching record highs, fueled by investor optimism in AI-driven growth. Amazon's shares hit new peaks due to strong holiday sales and AI advancements at its AWS conference. Despite mixed economic data and a cautious stance from the Federal Reserve on interest rates, the dollar weakened and U.S. Treasury yields steadied. Meanwhile, Bitcoin hovered just above $95,000, slightly down by 0.2%.
Palantir Technologies Inc. has been downgraded by Morgan Stanley due to skepticism surrounding the company's claims of being a major player in artificial intelligence (AI). While the stock has seen significant gains this year, it is currently down more than 20% from its recent peak and over 60% from its 2021 high. Analysts believe that Palantir's valuation reflects "AI euphoria" and that the company is still in the early stages of determining a monetization strategy for its solutions. The downgrade comes after Palantir gave a sales forecast that was seen as disappointing, leading to a high ratio of sell ratings among analysts.