šŸŽ™ļø So Long, Negative Rates

[5 minutes to read] Plus: Realtors reckon with seismic shift

By Matthew Gutierrez and Shawn Oā€™Malley

ā€œWe need bigger GPUs.ā€

Thatā€™s what Nvidia CEO Jensen Huang said Monday at the companyā€™s developer conference. Nvidia shares are up fivefold, and sales have more than tripled since OpenAIā€™s ChatGPT kicked off the AI boom in late 2022.

But obviously, Nvidia isnā€™t resting on its laurels. The way Huang talks, you might think theyā€™re just scratching the surface amid the AI revolution. He announced a new generation of AI chips and software for AI models.

After all, Nvidia is basically the modern-day version of John D. Rockefellerā€™s Standard Oil Company: Nvidiaā€™s high-end GPUs are critical for training and deploying AI models, and companies like Microsoft and Meta have spent billions buying the ā€œchips.ā€

šŸ¤” Could this still be the start?

ā€” Matthew & Shawn

Hereā€™s todayā€™s rundown:

Today, we'll discuss the biggest stories in markets:

  • Japan raises rates for the first time in 17 years

  • The great realtorsā€™ reckoning

This, and more, in just 5 minutes to read.

POP QUIZ

The Federal Reserve has a lot of assets on its balance sheet. Just how many, exactly? (The answer is at the bottom of this newsletter!)

Chart of the Day

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