What is the tech news today?
Asked 10 hours ago
Answer
OpenAI signs a $38 billion cloud deal with Amazon Web Services, gaining access to NVIDIA GPUs and diversifying from Microsoft. Global markets experience a sharp tech sell-off, with major declines in Palantir, Nvidia, AMD, and Tesla, though some stabilization is seen in Europe. Financial leaders predict a 10-20% market correction within 12-24 months, calling it normal and healthy for reassessment.
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Tech sell-off shakes global markets
- Major U.S. indices closed at session lows, led by a tech sector sell-off. 13s
- Palantir, Nvidia, AMD, and Tesla shares saw significant declines, with some stabilization in European trading. 18s
- Goldman Sachs and Morgan Stanley CEOs predicted a likely 10-20% equity market drawdown within 12-24 months. 1m 5s
- Palantir CEO Alex Karp criticized short sellers, calling recent activity 'market manipulation.' 1m 52s
- Commentators argued that questioning high valuations, such as Palantir's, is not market manipulation. 2m 13s
References
Global markets react to a significant sell-off in U.S. technology stocks, with Nasdaq, S&P 500, and Dow Industrials closing lower. The tech sector leads losses, notably Palantir, Nvidia, AMD, and Tesla, though some stabilization is observed in early European trading.
OpenAI announces a $38 billion compute deal with Amazon Web Services, its first partnership with the company, providing immediate access to NVIDIA GPUs and custom infrastructure. This follows the expiration of Microsoft's right of first refusal, allowing OpenAI to diversify its cloud providers.