🚀 Amazon's AI Horse

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Market Overview
Read time 1.6 minutes

Year To Date Performances:

1. Amazon is making a significant $2.75 billion investment in AI startup Anthropic, potentially extending up to $4 billion. This strategic move aims to bolster Amazon's standing in the AI domain and challenge competitors like OpenAI. Anthropic is known for its Claude chatbot, a formidable rival to ChatGPT. Through this investment, Amazon acquires a minority stake in Anthropic without board representation, focusing on enhancing AI-driven customer experiences and continuing its tradition of impactful technology investments.

2. The SEC has secured a crucial victory in its lawsuit against Coinbase, with a judge ruling that allegations of selling unregistered securities can proceed to trial. This decision came after the court dismissed Coinbase's request to drop the case, leading to a 2.5% drop in Coinbase's shares. Although part of the SEC's claim related to Coinbase's Wallet app was rejected, the core allegations were upheld, indicating that despite the novel context of cryptocurrency, the case aligns with traditional securities regulatory frameworks.

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4. Headlines

   1. Sam Bankman-Fried has been sentenced to 25 years in prison.

   2. 62% of Gen Z expect a recession in 2024. 50% more than the number of Boomers who expect a recession.

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