Economy

The development of AI
X AI will buy Nvidia chip for over 100 billion

Elon Musk states that X AI will buy around 100,000 of Nvidia's H100 chips, and until next summer roughly 300,000 of the later H200 chips. The latter would mean an investment of around SEK 95–125 billion, according to Barron's.

The newspaper further writes that the estimate is an estimate based on what the chip costs each - but that X AI can get volume discounts. In the AI ​​company's latest investment round, they took in just over SEK 63 billion, which would not cover the entire new chip investment.

..................................

China's industry is picking up pace at its biggest pace in two years

In May, China's manufacturing PMI rose at the fastest pace since June 2022, according to private index Caixin. The PMI rose from 51.4 in April to 51.7 in May – slightly more than expected according to Bloomberg's analyst average.

- China's economy is generally stable and still on the way to recovery, says Caixin's senior economist Wang Zhe.

The private index figure contrasts with the country's public statistics agency, which on Friday published a PMI figure that showed industrial growth unexpectedly slowed. One explanation is that the indices pick up different data, where Caixin is more focused on smaller and export-oriented companies.

..........................................

Climate threatSwedish pensions
The seventh AP fund dumps the world's largest oil company

The Swedish Seventh AP Fund now blacklists the world's largest oil company, Saudi Aramco. This is because the company lacks a sufficient plan for climate change, DN reports.

In addition to Saudi Aramco, three Chinese coal companies and three oil companies disappear from the portfolio.

The sales come after AP7 tried to influence the companies to align their operations with the Paris Agreement, AP7 states.

- They have no conversion plans that are worth taking seriously, says AP7's marketing manager Johan Florén to DN.

......................................

The Gamestop store
Gamestop goes crazy for hints about buying from Reddit profile

Gamestop surges close to 100 percent in pre-trade on Wall Street following speculation that memestock icon Keith Gill bought a large stake in the video game retailer, CNBC and Bloomberg report.

Keith Gill, who goes by the aliases Deepfuckingvalue on Reddit and Roaringkitty on X, was one of the frontrunners of the memestock hype in 2021. After being largely inactive on the forums since then, he has recently come back to life. On Sunday, he published a screenshot of what is speculated to be the holding of Gamestop shares worth the equivalent of SEK 1.2 billion.

Sjunde AP-fonden dumpar världens största oljebolag