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Billionaires are dumping Nvidia investments...
Hunter Kallay
September 20, 2024
Happy FRY-nancial FRY-day! Let's dip into some AI finance nuggets that are golden and delicious. 🍟
*Nothing we offer 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…)
Today’s Menu
Appetizer: Salty Stories of the Week 🧂
Entrée: This Week’s Diamond in the Rough 💎
Dessert: FRY-nancial Tool of the Week 🔧
🔨 AI FINANCE TOOLS OF THE DAY
👩💻 Domo: Create unified dashboards with real-time data integration. → Check it out
💰 Trullion: Streamline revenue recognition and lease accounting. → Check it out
🏥 Sift Healthcare: Optimize healthcare payments with data-driven revenue cycle tools. → Check it out
SALTY STORIES OF THE WEEK 🧂
Image: Supermaven
Want some seasoning? Here are the saltiest AI stories in FRY-nance from this week:
Salesforce, the world’s leading AI CRM, announced $23 million in new grants to U.S. school districts and global education nonprofits. The funds will help equip students with skills necessary for future success, including AI and STEM education. Over the past 12 years, Salesforce’s educational commitment has now reached $150 million. (Read More)
Supermaven, an up-and-coming coding assistant with a large context window, has announced its first round of outside funding: a $12 million round led by Bessemer Venture Partners and high-profile angel investors including OpenAI co-founder John Schulman and Perplexity co-founder Denis Yarats. Over 35,000 programmers are currently using Supermaven, and the money will be used to hire more developers for the platform. (Read More)
Hedge fund billionaires are selling Nvidia and dropping millions in Invesco QQQ Trust (QQQ), a growth-focused index fund that tracks the Nasdaq-100 index, heavily weighted towards the information technology sector. (Read More)
Salesforce Ventures just announced a new $500 million fund dedicated to AI companies, bringing the total fund to $1 billion. (Read More)
THIS WEEK’S DIAMOND IN THE ROUGH 💎
I’m “lovin” this tech company. 😍
How is AI helping AppLovin? AppLovin executes across multiple fronts, particularly in its Software Platform segment, powered by its AI-driven AXON technology. AppLovin’s platform helps app developers monetize their apps through targeted advertising. The company is also expanding into new verticals, including e-commerce and connected TV advertising, which enhances its future growth prospects.
Want some numbers? AppLovin stock has surged nearly 200% year-to-date, and its future still looks promising. In Q2 2024, AppLovin’s Software Platform segment grew 75% year-over-year, reaching $711 million, while total revenue surged 44% to $1.08 billion. With a current valuation at a 14% discount to sector median and room to grow, AppLovin is hoping to ride its strong momentum into the future.
HOW ARE THE MAGNIFICENT 7 DOING? 📈
Company: | Thursday Closing Price (±% from last week): |
|---|---|
Amazon (AMZN) | $189.87 (+1.5%) |
Apple (AAPL) | $228.87 (+2.7%) |
Alphabet (GOOGL) | $162.14 (+4.8%) |
Meta (META) | $559.10 (+6.4%) |
Microsoft (MSFT) | $438.69 (+2.7%) |
Nvidia (NVDA) | $117.87 (-1.1%) |
Tesla (TSLA) | $243.92 (+6.1%) |
FRY-NANCIAL TOOL OF THE WEEK 🔧
FYI: We don’t receive any compensation for sharing this tool. We just find it FRY-tastic! 🤪
What’s the tool? GridRewards is a free AI-powered app that tells you when and how to reduce your energy usage to help limit your carbon footprint and save money.
How does it work?
Download the free app.
Enter some basic information: Share your location with GridRewards to access accurate information.
Get updated: Get personalized energy insights and learn about the most optimal times to use energy and the best times to refrain.
Monitor your carbon footprint: Keep an eye on your electricity use and carbon footprint.
Get paid: Get $10 for each friend you refer. Work together with your neighborhood to earn extra rewards and multiply your impact!
FRY-AI FANATIC OF THE WEEK 🍟
Congrats to our subscriber, mbgoss! 🎉
Mbgoss gave us a Fresh and Crispy review and wrote, “Information I can understand in a format that I can read or skip to the next article easily … thank you.”
(Leave a comment for us in any newsletter, and you could be featured next week!)
YESTERDAY’S POLL RESULTS 📊
HAS AI REACHED SINGULARITY? CHECK OUT THE FRY METER BELOW:
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