REX Financial

🚨BIG NEWS FROM THE REX TEAM🚨 📈We're thrilled to announce that we've surpassed $5 billion in AUM 🚧Organizational update with the formation of REX Financial Check out the full press release for more information👇https://lnkd.in/g6bVbMPh

This week’s tech update highlights Palantir Technologies’ strong earnings driven by AI demand, regulatory hurdles for nuclear-powered data center contracts, and Meta’s environmental challenges in its quest for a nuclear-powered AI data center.

Weekly NVIDIA Update: NVIDIA Joins the DJIA, EU Acquisition Scrutiny, and AI PC Chip Plans NVIDIA and Sherwin-Williams Enter the Dow Jones Industrial Average NVIDIA and Sherwin-Williams will replace Intel Corporation and Dow Inc. in the Dow Jones Industrial Average starting Nov. 8. S&P Dow Jones Indices highlighted that this change aims to enhance the index's industry representation, with NVIDIA's inclusion underscoring the significance of AI technology in the broader economy. EU Scrutinizes NVIDIA's Run:ai Acquisition The European Commission announced plans to review NVIDIA’s proposed acquisition of Israel-based Run, a deal valued between $600 million and $700 million. The investigation follows concerns from Italy's competition authority, noting potential impacts on the AI software market within the European Economic Area. This review will determine if the acquisition consolidates NVIDIA’s influence in data center and AI sectors, requiring approval for the transaction to proceed. NVIDIA to Launch Arm-Based AI PC Chip in 2025 In a strategic shift, NVIDIA intends to release an Arm-based CPU for AI-powered PCs by 2025. Collaborating with MediaTek, NVIDIA aims to challenge the dominance of the x86 architecture, with potential implications for the future of AI-enabled personal computing.

Here’s a look at this week’s key U.S. economic events. MONDAY Factory Orders Total Vehicle Sales 3 Year Note Auction TUESDAY U.S. Presidential Election Imports and Exports S&P Global Services PMI ISM Non-Manufacturing PMI 10 Year Note Auction WEDNESDAY Crude Oil Inventories 30 Year Bond Auction THURSDAY Initial Jobless Claims Fed Interest Rate Decision FOMC Press Conference Consumer Credit FRIDAY Michigan Inflation Expectations Michigan Consumer Sentiment

This week’s AI update highlights Palantir Technologies and L3Harris Technologies's new partnership to advance U.S. military capabilities through AI-driven defense tech, Super Micro's sharp stock drop following its auditor's resignation over governance concerns, and Apple’s unveiling of its AI-powered M4 chips, set to redefine performance and efficiency in pro workloads for Mac users.

Scott Acheychek COO of REX Financial discussing market trends in the ETF space at the ETFGI Global Insights Summit

This week’s tech update highlights Apple’s cautious yet strategic AI launch, Big Tech’s escalating investment in artificial intelligence, and Microsoft’s latest accusations against Google’s competitive tactics.

Weekly NVIDIA Update: NVIDIA-TSMC Partnership, Infosys Collaboration, and India’s AI Expansion NVIDIA-TSMC Partnership Strengthens NVIDIA CEO Jensen Huang confirmed that TSMC resolved a critical flaw in the Blackwell chip, addressing prior shipment delays and further solidifying their partnership. TSMC’s Arizona plant surpassed production yield expectations, highlighting its vital role in NVIDIA’s AI chip development and signaling TSMC’s growing U.S. manufacturing presence. Infosys-NVIDIA AI Collaboration Infosys launched the Topaz BankingSLM and ITOpsSLM language models, powered by NVIDIA’s AI stack, to deliver industry-specific AI solutions at scale. Through their center of excellence, Infosys is integrating NVIDIA technology into products like Finacle and Topaz, enabling custom AI model development and advancements in 3D workflows, digital twins, and more. NVIDIA and Reliance Partner for AI in India During the Nvidia AI Summit in Mumbai, NVIDIA CEO Jensen Huang and Reliance’s Mukesh Ambani discussed India’s AI potential. Together, they announced a new partnership to establish a 1-gigawatt AI infrastructure center in Jamnagar, Gujarat. Ambani emphasized India’s demographic and infrastructure strengths, while Huang recognized Meta’s Mark Zuckerberg for his contributions to open-source AI.

Weekly Tesla Update: Q3 Highlights, Musk’s Wealth Surge, and Leadership Shakeup Tesla Q3 Highlights Tesla reported higher-than-expected automotive segment margins in Q3 2024, with energy segment margins surpassing 30%, driven by strong demand. Shanghai’s facility will launch 20 GWh/year storage production in Q1 2025. Tesla’s CyberCab targets 2 million units annually by 2026, with Full Self-Driving aiming for human-level safety by mid-2025. Q3 operating cash flow reached $6.3 billion, including $326 million from Cybertruck sales. CapEx is set to exceed $11 billion, fueled by AI and technology investments. Elon Musk’s Net Worth Surges by $33.5B Elon Musk’s net worth rose by $33.5 billion as Tesla shares surged 22%, marking the largest single-day gain since 2013. This came after Tesla’s highest quarterly profit since mid-2023 and Musk’s projection of up to 30% vehicle sales growth in 2024. Tesla’s market cap increased by nearly $150 billion, lifting Musk’s fortune to $270.3 billion, now $61 billion above Jeff Bezos. Tesla Leadership Shakeup Tesla promoted Michael Snyder to VP of Energy and Charging following strong Q3 energy results. Other key promotions include Omead Afshar to VP of Sales and Manufacturing, Ashok Elluswamy to VP of AI Software, Milan Kovac to VP of Optimus, and Wes Morrill to Senior Director of Engineering. These promotions reflect Tesla’s leadership restructuring after several senior exits earlier this year.

This week’s AI update covers NVIDIA's growing partnerships in India to support AI infrastructure development, Qualcomm and Google’s collaboration to revolutionize AI applications in the automotive industry, and NVIDIA CEO Jensen Huang's insights on how AI will enhance, rather than replace, human jobs.