What You Need To Know For July 11th

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The Main Stories 🔍

Goldman is bearish AI: Goldman Sachs put out a report noting how the big Tech firms like Nvidia, Microsoft, Meta, and Google have poured billions into AI but don’t really have an “ROI”. Even more so, them and other firms are expected to continue to invest heavily in AI, at the expense of cash flow, energy usage, trust, and copyrights, without a clear path to return on their investment. These big tech giants have spent over $100 Billion and are now spending over $10 Billion a month!

Goldman’s Jim Covello is pretty bearish - noting that so far AI isn’t showing that it would be able to solve complex problems that would justify these billions of dollars of investment. Covello asks that even if things do get better, then what’s the cost to get there?