Stock Market Winners & Losers: Stocks Rebound After 2 Weeks of Losses | Apple is in Talks to License Google’s Gemini AI | $2.72 Billion Expected to Bet on March Madness
Winner: Stocks rebound after two weeks of losses
Stocks, led by Nvidia's gains, rose ahead of a major AI conference where the company is expected to reveal details about its next AI chip. Nvidia's shares have surged 260% in the past year. The conference, featuring a keynote from CEO Jensen Huang, comes after weeks of tech-led losses in the market. Investors are also focused on the upcoming Federal Reserve meeting this week.
Winner: Apple is in talks to license Google’s Gemini AI
Apple is reportedly in discussions with Google regarding a deal to incorporate Google's Gemini artificial intelligence engine into the iPhone software. Gemini comprises various generative AI models, spanning from chatbots to coding assistants. This potential partnership implies that Apple may not have made significant advancements in AI on its own. While Apple has been developing its own software, it primarily focuses on leveraging AI within its hardware rather than in the cloud. If successful, this collaboration would mark a significant achievement for Google, granting access to Apple's vast ecosystem and potentially involving a substantial license fee.
Loser: $2.72 billion expected to bet on March Madness
March Madness, the NCAA basketball tournament, is expected to draw millions of viewers and generate $2.72 billion in legal wagers this year. With online sports betting expanding nationwide, the tournament's betting activity surpasses even that of the Super Bowl. Currently, 37 states have legalized sports betting, with North Carolina joining recently. Other major sporting events throughout the year, including the NFL season, soccer, golf, and baseball, are also projected to attract high levels of wagering.
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