Wall Street Breakfast Apple and Alibaba team up on AI
4 snips
Feb 11, 2025 Apple and Alibaba are teaming up to integrate AI into iPhones specifically for the Chinese market. Meanwhile, the EU is making strides toward becoming a leader in AI with new funding initiatives. Federal Reserve Chairman Powell emphasizes a cautious approach to monetary policy, reflecting on inflation and economic outlooks. Corporate sentiment reaches new heights, with promising projections for S&P 500 earnings despite some warnings from major companies. It's an exciting intersection of technology and market trends!
AI Snips
Chapters
Transcript
Episode notes
Apple's AI Venture in China
- Apple collaborates with Alibaba to introduce AI features to iPhones in China.
- The features await approval from China's cyberspace regulator.
EU's AI Investment
- The European Commission launched "Invest AI" to invest €200 billion in artificial intelligence.
- This includes a €20 billion fund for AI "gigafactories" to develop complex AI models.
Powell's Testimony on Rates
- Federal Reserve Chairman Jay Powell testified before Congress.
- He stated the Fed isn't rushing rate adjustments, balancing inflation control with economic stability.