NEW YORK, Jan. 30, 2024 /PRNewswire/ -- Global X ETFs, the New York-based provider of exchange-traded funds, today announced that the Global X Artificial Intelligence & Technology ETF (AIQ) has surpassed USD 1 billion in assets under management (AUM). This important milestone represents both the firm's legacy and expertise in thematic investing as well as the rapid rise of artificial intelligence (AI) and its role in accelerating disruption across industries. AIQ, which seeks to invest in companies that potentially stand to benefit from the further development and utilization

To gain an edge, this is what you need to know today. GDP Brings Buying  Please click here for an enlarged chart of Invesco QQQ Trust Series 1 (NASDAQ:QQQ). Note the following: The chart shows a drop in QQQ.  The drop in QQQ was triggered by speculative sentiment pulling back.  As a reader of The Arora Report, you knew in advance that speculative sentiment could fall as a result of Tesla Inc (NASDAQ:TSLA) earnings. The chart shows that QQQ is approaching the support zone. RSI on the chart shows that QQQ is now oversold.  Oversold markets tend to bounce. The chart shows that the volume was low on the selloff.  This indicates a lack of conviction in selling. Especially hard hit in

Tech stocks sold off on Wednesday, weighed down by comments from Republican presidential nominee Donald Trump and lukewarm forward guidance issued by European chip-equipment maker ASML Holding N.V. (NASDAQ:ASML). Tech venture capitalist and Deepwater Asset Management Managing Partner Gene Munster weighed in on the implications of the geopolitical rhetoric from either side of the aisle for the sector in general and artificial intelligence technology in particular. What Happened: The Nasdaq Composite Index ended Wednesday’s session down 2.5% and the Nasdaq 100, comprising 100 of the biggest non-financial tech stocks, fell a steeper 2.94%. The sharp plunge has been triggered by a vortex of g

Alibaba Group Holding (NYSE:BABA), Baidu Inc (NASDAQ:BIDU), and other peers are amid a price war as they slash the prices of their latest AI models to compete with China’s domestic AI startups. As Chinese artificial intelligence startups, like Baichuan AI, race to secure customers, they face intense competition from tech giants offering significantly lower prices. At a recent exhibition in Shanghai, Baichuan AI showcased its advanced healthcare chatbot powered by its latest large language model, Baichuan4. The startup claims that Baichuan4 outperforms OpenAI’s GPT-4 in certain areas, Nikkei Asia reports. Also Read: China’s AI Leaders Alibaba and SenseTime Showcase Breakthroug

Alibaba Group Holding Group’s (NYSE:BABA) cloud computing unit will shut down its data centers in Australia and India as it redirects infrastructure spending to other markets. The decision comes as part of an “infrastructure strategy update” following a careful assessment to prioritize investments in Southeast Asia and Mexico. Alibaba Cloud will halt its data center services in India after July 15, and in Australia after September 30, SCMP reports. Also Read: After Nvidia and Apple, Alibaba Chases Vietnam: New Data Center to Boost Control and Meet Local Laws Alibaba notified customers in these regions to migrate their business operations to data centers in Singapore and other loc

Alibaba Group Holding Ltd’s (NYSE:BABA) cloud unit has introduced its first "AI programmer" powered by the company's self-developed large language model (LLM). Introduced by Alibaba Cloud, the AI programmer aims to help developers shorten development time for applications, sometimes reducing the process to mere minutes, the South China Morning Post reports. Also Read: Apple’s AI Strategy Faces Hurdles In China, Talks With Local Firms Are Ongoing Xu Dong, general manager of Alibaba Cloud's Tongyi Qianwen LLM service, at the company's Cloud AI summit in Shanghai, emphasized that in the future, users will only need to identify problems and express requirements, making it possible to co

Alibaba Group Holding Ltd.‘s (NYSE:BABA) online shopping platform Lazada Group has denied reports of the parent company planning to sell its Thailand unit. The company refuted rumors of discussions with potential investors. According to Crunchbase data, in 2023, Alibaba invested $845 million in July and $634 million in December, followed by an additional $230 million in May, bringing the total investment to $7.4 billion, SCMP reports. Also Read: Alibaba’s 618 Shopping Festival Boosts Sales with Big Brands Like Apple, Xiaomi Leading the Way Lazada is part of Alibaba’s International Digital Commerce Group, one of the six major business groups established during the company’s reorga

Alibaba Group Holding Ltd (NYSE:BABA) affiliate Ant Group Co spent $2.9 billion (21.2 billion yuan) on research in 2023 to advance its artificial intelligence ambitions. The Jack Ma-backed fintech company has been spending heavily on research and development over the past three years. Ant has been developing technology, including its large language model BaiLing, which won the Chinese government approval in 2023 to showcase products powered by its “Bailing” artificial intelligence (AI) large language model to the public, Bloomberg reports. The model has been powering various AI assistants on its Alipay platform, including a “smart healthcare manager” and “smart financial manager,” R

Alibaba Group Holding Limited (NYSE:BABA), heavily investing in generative AI, has updated its open-source AI models, claiming they surpass Meta Platforms Inc’s (NASDAQ:META) Llama 3 in specific tasks. Alibaba Cloud launched Qwen2, the second version of its Tongyi Qianwen large language models (LLMs), featuring multilingual pre-training and an expanded context window for longer queries and answers. Qwen2, which comes in five variations, consistently outperformed Meta’s Llama 3-70B model in benchmarks across various disciplines, the SCMP reports. Also Read: Temu’s Growth Surge Makes Parent PDD Surpass Alibaba as China’s Most Valuable E-Commerce Giant The company unveiled Qwen2 sho

In a recent report, it was suggested that NVIDIA Corp (NASDAQ:NVDA) has one customer that contributes to a significant portion of its revenue, with Microsoft Corp (NASDAQ:MSFT) being the likely candidate. What Happened: A UBS note speculated that Microsoft might be Nvidia’s largest indirect customer, responsible for 19% of the chipmaker’s revenue in fiscal 2024, reported CNBC. The report highlighted that Nvidia’s revenue is heavily reliant on a few major customers, with Microsoft possibly being the most significant. This revelation comes at a time when Nvidia’s sales are soaring, largely due to the demand for its advanced processors for artificial intelligence technology. Despite th

Artificial intelligence companies have captivated the markets as the proliferation of AI looks to be a major disruptor in several industries. Investors have poured funds into AI exchange-traded funds (ETFs) to diversify their portfolios. The largest AI ETFs are the Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ), the Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ) and the ROBO Global Robotics And Automation Index ETF (ASX: ROBO). A question to ask is: Have they beaten the overall market? BOTZ ETF: According to data compiled from etf.com, the BOTZ ETF is the largest AI ETF with $2.76 billion in assets under management. BOTZ has appreciated by 10.63% in year-