CNBC Daily Open: Artificial intelligence is still key to markets despite tariffs overshadowing the technology
May 21, 2025 - cnbc.com
The article discusses several key developments in the tech and financial sectors. Tesla's CEO Elon Musk confirmed plans to launch robotaxis in Austin by June and emphasized his commitment to leading the company for the next five years. Meanwhile, Google introduced a new AI subscription service, "Google AI Ultra," priced at $249.99 per month, featuring advanced AI tools. The S&P 500 ended its six-day winning streak, and UBS shares fell due to anticipated higher capital requirements. Additionally, Fortnite returned to the Apple App Store after a five-year absence.
The article also highlights the ongoing impact of U.S. tariffs, with investor enthusiasm for AI waning despite companies continuing to invest in AI infrastructure. Josh Brown from Ritholtz Wealth Management argues that AI remains a crucial market catalyst. The trade war with the U.S. has prompted Chinese exporters to seek alternative markets, with 95% planning to expand exports outside the U.S., according to a survey by Allianz Trade.
Key takeaways:
Investor enthusiasm for artificial intelligence has waned due to tariff issues, but companies continue to invest in AI infrastructure and services.
Elon Musk is committed to leading Tesla for the next five years and plans to launch robotaxis in Austin by the end of June.
Google is launching a new AI subscription service called "Google AI Ultra" for $249.99 per month, featuring advanced AI tools.
Chinese exporters are increasingly looking to diversify away from the U.S. market due to ongoing trade war concerns.
