Nov 6, 2023
"Life is too short for long-term grudges." - Elon Musk
xAI, Elon Musk’s artificial-intelligence startup, showed off its first product: a bot named Grok that rivals ChatGPT. In a series of social-media posts over the weekend, Musk said Grok will be designed for tasks including information retrieval and coding assistance, part of an effort to create AI tools “that assist humanity in its quest for understanding and knowledge.” Musk said Grok would be made available to X’s Premium+ subscribers after beta testing with a limited group of users.
“The pace of AI is faster than any technology I’ve seen in history by far,” Musk said on Thursday in a conversation with U.K. Prime Minister Rishi Sunak. “On balance I think AI will be a force for good most likely, but the probability of it going bad is not zero percent, so we just need to mitigate the downside potential.” (WSJ)
U.S. stock markets all lost ground in October, the third consecutive month of declines and the longest losing streak since the start of the Covid-19 pandemic in 2020. The S&P 500 slid by 2.2% during the month, the nasdaq composite by 2.8% and the Dow Jones industrial average by 1.4%.
Investors are adapting to a world of higher interest rates, which reduce the present value of future earnings. The future remains uncertain as fears loom large over the sell-off in the bond market, oil prices, and the tight labor market.
Apple’s fiscal fourth-quarter results late Thursday indicate that its newest iPhones aren’t off to a fast start. iPhone revenue for the quarter rose 3% year over year to about $43.8 billion, in line with analysts’ forecasts. But that compares with a 10% gain in the previous year’s fourth quarter and a 47% surge in 2021, when the iPhone 13 family launched to surprisingly strong demand.
Compared with its big tech peers inflated by artificial-intelligence hype, Apple seemed to have the lowest bar to clear in the current earnings season. We aren’t so worried about the weakness out of China but we are paying attention to the weakening consumer and its impacts on the upgrade cycle (and the overall economy, for that matter) heading into year end.
As of writing, AAPL is a holding in Titan's Flagship strategy. Twitter (X Holding) is a 1.92% holding in the ARK Venture Fund.
© Copyright 2024 Titan Global Capital Management USA LLC. All Rights Reserved.
Please refer to Titan's Program Brochure for important additional information. Certain investments are not suitable for all investors. Before investing, you should consider your investment objectives and any fees charged by Titan. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested, including principal. Brokerage services are provided to Titan Clients by Titan Global Technologies LLC and Apex Clearing Corporation, both registered broker-dealers and members of FINRA/SIPC. For more information, visit our disclosures page. You may check the background of these firms by visiting FINRA's BrokerCheck.
Various Registered Investment Company products (“Third Party Funds”) offered by third party fund families and investment companies are made available on the platform. Some of these Third Party Funds are offered through Titan Global Technologies LLC. Other Third Party Funds are offered to advisory clients by Titan. Before investing in such Third Party Funds you should consult the specific supplemental information available for each product. Please refer to Titan's Program Brochure for important additional information. Certain Third Party Funds that are available on Titan’s platform are interval funds. Investments in interval funds are highly speculative and subject to a lack of liquidity that is generally available in other types of investments. Actual investment return and principal value is likely to fluctuate and may depreciate in value when redeemed. Liquidity and distributions are not guaranteed, and are subject to availability at the discretion of the Third Party Fund.
The cash sweep program is made available in coordination with Apex Clearing Corporation through Titan Global Technologies LLC. Please visit www.titan.com/legal for applicable terms and conditions and important disclosures.
Cryptocurrency advisory services are provided by Titan.
Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice.
Contact Titan at firstname.lastname@example.org. 508 LaGuardia Place NY, NY 10012.