Fed decision, AMD's AI push, Tesla's winning streak: Top stories
The recent post on Yahoo Finance Live takes a look at the significant stories of Wednesday. The Federal Reserve is in the spotlight, with investors anticipating a hold on the current interest rate hike cycle. However, they are paying attention to hints from the Fed to predict their next move. Meanwhile, AMD is challenging Nvidia's dominance in the field of Artificial Intelligence. Lastly, Tesla's stocks have been on the rise for the 13th consecutive day. The reason behind the surge remains a mystery.
Brad Smith has given us three important pieces of information. The Federal Reserve is predicted to not increase interest rates during their 2:00 PM Eastern time rate decision, which could be seen as a cautious approach. This is the first time in 15 months that they are expected to do so. The most significant event of the day will likely be the press conference with Fed Chair Jay Powell.
Yesterday, the rate of inflation decreased. However, if prices continue to decline in the future, it may be more difficult for the Fed, which bases its decisions on data, to justify increases in interest rates. Many people will be focused on the Fed's stop plot, which outlines their predictions for rates, as well as a broader overview of their economic projections.
AMD has just released its latest GPU for AI, which is being deemed as the biggest challenge to NVIDIA's current market reign. The MI300x will be available for shipment later this year and is expected to cut into NVIDIA's current 80% market share in the chip industry. AMD's CEO, Lisa Su, was quoted in "Yahoo Finance Live" as saying that the new technology is transformative and the unveiling marked a significant day.
According to a report from Reuters, Amazon Web Services is currently evaluating the possibility of using processors from AMD but has not yet come to a final conclusion.
The trend of Tesla's impressive growth shows no signs of slowing down. In fact, their momentum seems to only be increasing. With their market value exceeding that of 90% of the NASDAQ 100 components, they have now gone 13 consecutive sessions with higher closing numbers. In recent weeks, Tesla has received some good news. Sales of their Model Y in China have helped them become the top-selling vehicle in the world throughout the first quarter. Additionally, they have made some important partnerships regarding their supercharger network.
What's next for Tesla? According to Adam Jonas from Morgan Stanley, the company's value will most likely continue to rise. He believes that the market is currently more focused on Tesla's association with artificial intelligence than anything else.
