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February saw a decline in stocks as the AI rally lost steam, with the S&P 500 dropping 1.4% and the Nasdaq falling 4%. Investors are now focusing on upcoming earnings reports and economic data, particularly from major companies like Nvidia and Tesla. The uncertainty in the market has led to a cautious approach among investors, especially regarding AI stocks.
Nvidia is set to host its annual GPU Technology Conference, where significant updates on AI technology are expected. Tesla's CEO Elon Musk faces scrutiny over his government involvement, which may distract from Tesla's ambitious goals in AI and autonomous vehicles. Target's earnings report will be closely watched, especially in light of Walmart's recent conservative outlook, as consumer sentiment remains shaky.
• Nvidia's GTC promises exciting AI updates and innovations.
• Tesla's Musk faces concerns over distractions from government work.
The AI rally refers to the surge in stock prices of AI-related companies, which has recently slowed.
An open-source AI model allows developers to use and modify AI technology freely, impacting market dynamics.
Compute efficiency measures how effectively a model uses computational resources, crucial for AI performance.
Nvidia is a leader in AI hardware and software, crucial for powering AI applications and models.
Tesla is at the forefront of integrating AI into electric vehicles, focusing on autonomous driving technologies.
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