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AI is having profound effects on nearly every industry. NVIDIA Corp. reached a $1 trillion market cap by honing in on AI. Tesla Inc. has growing optimism for its AI-powered robots and self-driving cars.
The recent increase in borrowing costs across Corporate America is causing concern for stock investors, particularly in the tech sector. Federal Reserve Chairman Jerome Powell's commitment to keeping interest rates adjusted for inflation elevated has sparked a sell-off in Big Tech stocks. The rising cost of capital is seen as detrimental to equity valuations, and skepticism is growing as the cost of borrowing climbs. Higher rates are pressuring companies and threatening to impact their valuations. The tech-heavy Nasdaq 100 has already dropped over 5% in September.
Innovation comes with new and creative ideas that bring a healthy change in society.
Learn all about how generative AI transforms every industry at theCUBE's Supercloud 4 event, Oct. 24-25 - SiliconANGLE
Dublin, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The