In other news, the share price of Trump Media fell by 26% following an SEC filing showing a net loss of $58.2 million last year. Meanwhile, the ISM manufacturing index expanded for the first time since 2022, casting doubt on a June rate cut. In the tech sector, Microsoft has downsized its Teams chat app to focus on its Copilot AI tools, while AI companies are struggling to find high-quality data for training their chatbots.
Key takeaways:
- Wall Street is concerned about Tesla's Q1 deliveries, with analysts' delivery estimates for the most recent quarter down 6% compared to Q4. Tesla's stock is down 30% in 2024.
- Former President Donald Trump's media company's share price tumbled as much as 26% after an initial surge, following a new SEC filing showing a net loss of $58.2 million last year compared to $4.1 million of revenue.
- There's a growing fear that AI will upend our lives and put people out of work, but computerized decision-making has already ingrained itself in every part of our existence.
- Ted Farnsworth, the businessman who blew up MoviePass, tried to create a "TikTok killer" which ended up costing investors millions.