Amazon’s NEW AI Tool

Amazon investors initially focused on the potential of artificial intelligence (AI) and cloud opportunities during the company's earnings call, despite a soft holiday-quarter outlook. However, there is a catch. While generative AI offers exciting possibilities, corporate customers are still exploring its potential applications and evaluating the costs and benefits. Amazon's CEO, Andy Jassy, mentioned that companies are in the early stages of generative AI, often creating prototypes and testing models. However, they sometimes discover that using large AI models can be more expensive than anticipated. Cloud revenue can also be unpredictable due to the uneven distribution of deals throughout the year.

Amazon fell short of cloud revenue estimates by around $100 million in the latest quarter, partly due to delayed contracts and the extended decision-making process in the corporate sector. Jassy also emphasized the importance of "optimization" in managing data-center assets, which has become a notable trend among companies. Microsoft, a major competitor in cloud services, is gaining ground in the market, with better-than-expected results and promising AI offerings. While Amazon's AI-powered cloud opportunities are significant, the company's growth in this area may not follow a consistent upward trajectory.

Read More: https://www.marketwatch.com/story/amazons-ai-talk-is-making-wall-street-drool-but-there-seems-to-be-a-catch-9fbbf082?mod=home-page

Gold is officially outperforming stocks

Gold has outperformed the S&P 500 stock index in 2023 due to a rally in October, with the price of an ounce of gold nearing $2,000, a level not seen since May. The surge in gold prices is attributed to increased demand for safe-haven investments following an attack by Hamas on Israel in early October, leading to tensions and a subsequent war.

As of the most recent data, the S&P 500 has gained 7.8% since the beginning of the year, while gold futures for October delivery have risen by 9.2% during the same period.

This marks the second consecutive year where gold has outperformed stocks, following a trend from 2022. In 2022, gold futures recorded only marginal losses, while the S&P 500 dropped by 19.4%, excluding dividends. In 2020, gold futures rose by 24.4% compared to the S&P 500's gain of 16.3%. The S&P 500 has also experienced recent declines, falling 9.8% from its 2023 closing high and heading toward correction territory.

Read More: https://www.marketwatch.com/story/gold-is-officially-outperforming-stocks-in-2023-as-october-rally-continues-40adda1b?mod=home-page

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