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Tesla Inc. shares rallied to a record high on Friday, taking the electric-vehicle maker another step closer to joining an elite group of companies with market valuations of at least $1 trillion. The stock jumped as much as 1.8% to touch a high of $910, before closing at $909.68 in New York. That drove the Elon Musk-led automaker to briefly overtake the valuation of Facebook Inc. The trailblazing electric-vehicle maker is up 29% this year, ahead of S&P 500 Index's 21% advance. Meanwhile, Facebook took a heavy hit on Friday after a cautious outlook from Snapchat parent Snap Inc. weighed on the shares of ad-dependent technology companies.
Every chief executive is figuring out the right balance for new hybrid business models. Regardless of the chosen approach, which will vary, technology executives understand they must accelerate digital and build resilience as well as optionality into their platforms. This is driving a dramatic shift in information technology investments at the macro level as we expect total spending to increase at 8% in 2021, a big turnaround from last year's contraction. Investments in cybersecurity, cloud, collaboration to enable hybrid work and data, including analytics, artificial intelligence and automation are the top spending priorities for CxOs. In this post we'll share some takeaways from ETR's latest survey and provide our commentary on what it means for markets, sellers and buyers. We'll also explain what we think Wall Street is missing about Amazon's latest earnings.
In January, 2021, retail investors - Robinhood army - came together on Reddit's Wall Street Bets group and other social media outlets to take down prominent hedge funds by causing a short squeeze and pushing up GameStop's stock price by 400% in just one week¹. This amount of volatility is not normal, the retail investors were urged on by the Reddit group to punish hedge funds that had taken an outsized short bet against GameStop. Tracking market sentiment can be a powerful tool for investors because understanding the mood of where the market is going can allow one to capitalize from the changing direction. Combining market sentiment with market fundamental will result in more sound investments. I was fascinated by the showdown between Wall Street and Reddit and inspired to understand how machine learning (ML) can be used to track market sentiment.
"The big tech is banking heavily on AI, Cloud and 5G technologies to retain customers and drive growth" A global emergency can smother your business, government lawsuits can break your company, competitors with trillion-dollar market value can wipe your organisation off the map. But what would happen when all three come together in the same year? The pandemic brought the world to a standstill. The internet giants, however, came out of it unscathed. Apple, Amazon, Google and Facebook, popularly known as the big four, have not only survived a combination of calamities but registered profits and left the Wall Street analysts dumbfounded.
A January survey from online travel company trivago showed 38% of Americans would give up sex for a year to travel right now. The other 62% appear to be actively hunting for love online. On Tuesday online dating company Match Group showed the quest for chemistry was a very popular New Year's resolution after many months of solitary confinement. The first quarter looked good from all angles, with revenue and adjusted earnings before interest, taxes, depreciation and amortization both coming in above Wall Street's expectations. Match's revenue forecast for the second quarter was also better than analysts had expected, though the company did say it will lean into its recent momentum and increase marketing spending relative to the same period last year, weighing slightly on its bottom line.
Microsoft said on Monday that had agreed to buy Nuance Communications Inc. for about $56 a share, or almost $20 billion including debt. At first glance, it may seem like a strange candidate for what would become Microsoft's second-largest acquisition after its $26 billion deal for LinkedIn Corp. For much of the last decade, Nuance's sales have stagnated as the early pioneer of speech-recognition products wasn't able to innovate fast enough. Given the impressive technology and potential inside its latest AI solution for health care, a purchase of Nuance makes sense. The game-changing product is the Nuance Dragon Ambient eXperience, or DAX, which was released in February 2020.
Most conversational recommendation approaches are either not explainable, or they require external user's knowledge for explaining or their explanations cannot be applied in real time due to computational limitations. In this work, we present a real time category based conversational recommendation approach, which can provide concise explanations without prior user knowledge being required. We first perform an explainable user model in the form of preferences over the items' categories, and then use the category preferences to recommend items. The user model is performed by applying a BERT-based neural architecture on the conversation. Then, we translate the user model into item recommendation scores using a Feed Forward Network. User preferences during the conversation in our approach are represented by category vectors which are directly interpretable. The experimental results on the real conversational recommendation dataset ReDial  demonstrate comparable performance to the state-of-the-art, while our approach is explainable. We also show the potential power of our framework by involving an oracle setting of category preference prediction. Keywords: Conversational Recommendation · Category Preference Based Recommendation · Explainable Conversational Recommendation · Cold Start Explainable Recommendation.
Call center software provider Five9 Inc. has come up a winner yet again, comfortably beating Wall Street's targets with its third-quarter financial results and delivering strong guidance on top of that. The company reported a profit before certain costs such as stock compensation of 27 cents per share on revenue of $112 million, up 34% from a year ago. That was well ahead of Wall Street's forecast of 18 cents per share in earnings and $101 million in revenue. Five9 sells cloud-based contact center software and services for enterprises that enable them to keep track of and manage their interactions with customers. Its software covers traditional phone calls, as well as video calling services, emails and social media interactions.
With so much death and economic destruction wrought by the novel coronavirus, it's hard to find the silver lining. But if there is one on Wall Street, it's the rise of artificial intelligence stocks. Yes, there is the profitability angle from machine learning and other relevant technology facilitates. But this crisis has been a crash course in the sector's viability. Hopefully, we won't suffer a second wave like many European countries are experiencing because, you know, people can just get over themselves and wear a flipping mask in public.
Russia's biggest technology company enjoys a level of dominance that is unparalleled by any one of its Western counterparts. Think Google mixed with equal parts Amazon, Spotify and Uber and you're getting close to the sprawling empire that is Yandex--a single, mega-corporation with its hands in everything from search to ecommerce to driverless cars. But being the crown jewel of Russia's silicon valley has its drawbacks. The country's government sees the internet as contested territory amid ever-present tensions with US and other Western interests. As such, it wants influence over how Yandex uses its massive trove of data on Russian citizens. Foreign investors, meanwhile, are more interested in how that data can be turned into growth and profit. For the September/October issue of MIT Technology Review, Moscow-based journalist Evan Gershkovich explains how Yandex's ability to walk a highwire between the Kremlin and Wall Street could potentially serve as a kind of template for Big Tech.