CNBC Daily Open: Tariff tumult rocking markets doesn't mean artificial intelligence is out of the picture
May 21, 2025 - cnbc.com
The article discusses several key developments in the tech and financial sectors. Investor enthusiasm for artificial intelligence has waned due to recent tariff issues under U.S. President Donald Trump, although companies like Google and Tesla continue to invest heavily in AI. Google is launching a new AI subscription service, "Google AI Ultra," while Tesla plans to introduce robotaxis in Austin by June. Despite the dampened investor mood, AI is still considered a major market catalyst. Meanwhile, U.S. markets experienced a slight downturn, with the S&P 500, Dow Jones, and Nasdaq all declining.
In other news, Japan's exports grew at their slowest rate since last October, partly due to a 25% levy on auto, steel, and aluminum exports to the U.S. Additionally, Japan's farm minister, Taku Eto, resigned after public backlash over comments about receiving free rice, amid soaring rice prices in the country. The article also highlights the growth of Asia-Pacific markets, with Hong Kong's Hang Seng Index rising due to gains by Contemporary Amperex Technology.
Key takeaways:
Investor enthusiasm over artificial intelligence has waned due to tariff issues, but companies continue to invest in AI infrastructure.
Tesla plans to launch robotaxis in Austin by the end of June, with Elon Musk committed to leading the company for the next five years.
Google introduces a new AI subscription service called "Google AI Ultra" at $249.99 per month, featuring advanced AI tools.
Japan's farm minister Taku Eto resigned after public outrage over his comments about receiving free rice amid rising rice prices.
