Indexes end sharply higher; AI chip maker Nvidia jumps again after the bell
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- S&P 500 falls as AI worries hit software makers
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- Qualcomm stock surges 9.5% on Amazon AI deal & 25M share warrant
- Energy stocks rise premarket as oil prices climb on Middle East supply fears
- Novartis shares plunge 10% as failed drug trial clouds growth outlook
- Citi initiates UiPath coverage with Buy rating and $23 target
- Harry and Meghan surprised by King Charles' letter on their status
- S&P 500 falls as AI worries hit software makers
- WestPark Capital Starts Akebia Therapeutics (AKBA) at Buy
- After an 18% summer selloff in chip stocks, Citi asks what comes next
- After-Hours Movers: LULU, IOT, PATH, DOCU, ASAN, GWRE, ZS, PL, SWBI, OXM
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Here's how UBS sees AI impacting the economy
August 23, 2023 2:22 PM EDTWhat happens when AI takes over? That's the question UBS Chief Economist Paul Donovan asked in his note Wednesday.
"The hype about artificial intelligence (AI) has been increasing it is the 'Bored Ape' of 2023. However, unlike the crypto or NFT crazes, there is a clear economic application for AI.
Donovan told investors that there is "a lot of hype about artificial intelligence (AI)," and there are four broad impacts where economists "have something sensible to contribute."
AI and Jobs: UBS... More
