May Be Used Against You
On Friday, we asked readers if they’ve been investing in gold; a reader writes:
“Been buying Wheaton Precious Metals (WPM) for three years now; it’s starting to PAY OFF. I Believe it may reach 29 or 30% gains by the years end!”
And, last week, we talked about virtual assistants and your privacy. To wit, a reader says…
“A relative of mine is a forensic IT guy and he has been involved in numerous lawsuits between divorcing couples where one party said something out of anger without realizing the ‘machine’ was recording it… and it is admissible in a civil trial.
“So the offending party paid BIG TIME.
“Divorces are messy. Now they’re exponentially more so…”
Your Rundown for Monday, July 22, 2019:
Microsoft and OpenAI
This morning we read: “Microsoft Corp said on Monday it was investing $1 billion in San Francisco-based OpenAI and that the two had formed a multi-year partnership to develop artificial intelligence supercomputing technologies on Microsoft’s Azure cloud computing service,” says Reuters.
Move over Musk and company?
(We can’t neglect to mention Microsoft’s strong earnings report that added 2% Friday to the stock’s 36% gains year-to-date.)
OpenAI was founded in 2015 as a non-profit with $1 billion in seed money from Silicon Valley investors like Peter Thiel.
The non-profit’s mission was to advance AI more cost effectively while considering the social and safety implications of AI.
More recently, OpenAI launched a for-profit division, pursuing something called “artificial general intelligence” (AGI).
“AGI is the holy grail of the field and would mean the computing system can master a subject as well or better than the best humans in the world — and master more fields than any single human,” says Reuters.
In short — considering MSFT solid earnings report and market-beating performance so far this year — is it prudent to buy Microsoft or are shares topped out?
Prudent to buy? Yes. Topped out? No.
Market Rundown for Mon. July 22, 2019
S&P 500 futures are up 5 points to 2,981.83.
Oil is up 24 cents to 2,981.83.
Gold’s added $1.20 to its price of $1,427.97 per ounce.
Bitcoin is down $90.40 to $10,498.41.
Have a great day. We’ll talk tomorrow.
For the Rundown,