Ryan Mumy and Justin Greenhill open August with a look at how far AI adoption has come, why semiconductor volatility keeps setting records, and what a weakening US dollar means for global positioning. This episode also covers mega cap capital spending, credit markets, and commodities.
In this episode:
- ChatGPT usage grew from near zero to roughly a billion weekly users in a few years
- AI models now complete in a few hours tasks that used to take humans far longer
- Mega cap tech companies are spending huge shares of revenue on AI infrastructure
- A triple leveraged semiconductor ETF swung from $30 billion to $60 billion in weeks
- Samsung and SK Hynix earnings reopen the debate over cyclical versus secular chip demand
- The US Treasury and Japan intervened to strengthen the yen against the dollar
- Emerging markets remain up double digits this year despite a volatile summer stretch
