Economy

The AI ​​race
Heavy for AI giants – 9.6 trillion up in smoke in a week

Nearly 1 trillion dollars, equivalent to 9.6 trillion kronor, have gone up in smoke for Wall Street's AI companies since last Friday, reports the FT.

It is the worst week since Donald Trump's so-called liberation day in April, where high valuations and the increased uncertainty about the state of the US economy are now making investors nervous.

For the eight most valuable AI-connected companies alone, including Nvidia, Meta, Palantir and Oracle, the value decreased by 800 billion and pushed down the technology-heavy Nasdaq by 3 percent.

Florian Lelpo, head of macro at Lombard Odier, raises a warning finger and believes that there are striking similarities between the IT bubble and today's AI hype, where companies largely finance their investments with loans.

Jonestrading's Michael O'Rourke sees a shift among investors since Nvidia CEO Jensen Huang's comments that "China is winning the AI ​​race."

"What we're seeing is a repricing of the multiples in the sector, and that's where most of the weakness lies," he told Reuters.

O'Rourke added that the decline could simply be profit-taking, after a "very good year for stocks."

Black Friday shopping
Million-dollar fines threaten chains if they continue with fraudulent discounts

Black Friday is just around the corner and ten retail chains that cheated last year risk fines of millions if they repeat their fraudulent discounts, writes Dagens Industri.

– The shortcomings we see have led to us having to take a tougher stance, and actually force companies to adopt the new legislation, says David Ånesjö at the Swedish Consumer Agency.