Amazon doubles down on AI investment

Hopefully you didn’t fill up too much on turkey and pie yesterday, because we have a FRY-nancial FRY-day feast cooked up for you today. 🍽️

*Nothing in this newsletter constitutes investment advice. Our aim is to report the latest happenings and teach you how to use the newest AI finance tools.*

🤯 MYSTERY AI LINK 🤯

(The mystery link can lead to ANYTHING AI-related: tools, memes, articles, videos, and more…)

🔨 AI FINANCE TOOLS OF THE DAY

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SALTY STORIES OF THE WEEK 🧂

Want some seasoning? Here are the saltiest AI stories in FRY-nance from this week:

• Amazon has invested another $4 billion in Anthropic (totaling $8 billion), deepening their AI partnership. Following this investment, Anthropic named AWS as the primary training partner for its cutting-edge AI models, including the advanced Claude 3.5 family. Anthropic will use AWS Trainium and Inferentia chips to train and deploy these models. The collaboration gives AWS customers unique tools to fine-tune models with their own data while benefiting from enhanced performance on Amazon Bedrock. (Read More)

• The U.S. Department of Energy is investing $30 million in AI technology to speed up the process of connecting renewable energy projects like solar and wind farms to the power grid. Right now, this process can take up to seven years due to slow, manual reviews, leaving over twice the U.S.’s current energy capacity stuck in a backlog. AI could automate parts of this process, like identifying incomplete applications, helping to clear delays and get clean energy online faster. (Read More)

• Dell Technologies (DELL) stock dropped 12% on Wednesday after the company issued a cautious outlook, pointing to slower-than-expected AI growth and challenges in the PC market. Although demand for its AI products remains strong, Dell’s AI server revenue fell 9% in Q3, largely due to delays in Nvidia’s next-generation Blackwell chips, which now account for most of Dell’s $20 billion AI backlog. (Read More)

THIS WEEK’S DIAMOND IN THE ROUGH 💎

I asked a freelancer to organize my calendar, but I had to fire him for taking a day off. 🗓️

This week’s diamond in the rough: Fiverr (FVRR)

How is AI helping Fiverr? While some fear tools like ChatGPT could replace freelancers, Fiverr sees the opposite—demand for AI-related human services is surging. Businesses need skilled professionals to harness AI effectively, and Fiverr’s marketplace connects them with experts in app development, e-commerce, and financial consulting.

Want some numbers? Fiverr’s stock value now sits less than 9% above its (recently notched) all-time low and roughly 94% below the record high it set in early 2021. As inflation has surged, freelance service buyers slowed down their spending, which hurt Fiverr significantly. Despite these drawbacks, its business growth over the past three years outpaced even industry giants like Apple and Microsoft. As many anticipate an economic upturn and more people look to pair AI tools with human experts, it’s possible Fiverr will begin to thrive once again.

HOW ARE THE MAGNIFICENT 7 DOING? 📈

FRY-NANCIAL TOOL OF THE WEEK 🔧

Money management is more fun when there is money to manage. 🙃

What is the tool? Tender helps users manage their finances by turning financial management into an inbox.

How does it work? Tender imports transactions from all of your financial accounts to view in one place. From there, you can track, group, and share expenses easily. You can also create customized graphs to better understand your spending habits.

FRY-AI FANATIC OF THE WEEK 🍟

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Jiwanski6 gave us a Fresh and Crispy review and wrote, “I really appreciate the combination of fun facts and what’s happening in business and government as well.“

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