🚀 AWS increases AI investment

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Market Overview
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Year To Date Performances:

1. Amazon Web Services (AWS) has announced a massive $50 billion investment to build out new artificial intelligence (AI) and high-performance computing infrastructure specifically for U.S. government agencies, with construction on new, 1.3-gigawatt data centers set to begin in 2026. This monumental project is aimed at removing technological barriers for federal customers—a pool of over 11,000 agencies—by providing them access to state-of-the-art tools, including Anthropic's Claude models, Nvidia chips, and Amazon's proprietary Trainium AI chips, thereby escalating the industry-wide race among tech giants to corner the government's burgeoning demand for next-generation AI processing capacity.

2. Shares of Sandisk surged over 7% in after-hours trading following the announcement that the flash storage vendor, which was recently spun off from Western Digital, will replace marketing firm Interpublic Group in the S&P 500 index before trading begins on November 28. This addition marks Sandisk's return to the benchmark following its 2016 acquisition by Western Digital and subsequent spin-out in February, and the replacement is triggered by Interpublic’s pending acquisition by Omnicom Group, while the index adjustment itself is expected to drive further stock buying from fund managers tracking the S&P 500, continuing the trend of technology companies increasing their representation within the major stock index.

3. BlackRock's iShares Bitcoin Trust ETF (IBIT) is experiencing its worst performance on record, with $2.2 billion in outflows this month alone. This comes as the underlying asset, Bitcoin, heads toward its largest monthly decline since June 2022, dropping more than 20% to trade near $87,900. This massive investor exodus from the high-profile spot ETF is being driven by broader risk-off sentiment in the market, where mounting economic uncertainty and fears over the Federal Reserve's rate decisions are prompting investors to abandon highly volatile "gambling" assets like crypto in favor of safer havens like gold, despite the expectation that the funds' institutional investor base may eventually temper the asset class's traditional volatility.

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