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On July 3rd, analyst Adam Button reported that, citing an internal all-hands meeting at Meta Platforms (META.O), CEO Mark Zuckerberg admitted that AI agent development has fallen short of expectations over the past four months. Meta has been under intense scrutiny this week due to recent reports that the company is considering selling excess computing power, leading to market speculation that it may be withdrawing from the basic modeling track. Meta has also recently been impacted by layoffs and job reassignments affecting its corporate culture, and has attempted to soothe employee morale with relatively superficial measures such as providing snacks (to appease) and hosting hackathons (to boost morale). At the meeting, Zuckerberg admitted that the departmental restructuring "could have been done more efficiently"; executives had worried earlier in the year that "AI action wasnt fast enough." However, Zuckerberg is clearly not ready to back down, stating that the best outcome of the restructuring "has not yet been achieved," and still believes that long-term trends align with the restructuring direction. This doesnt sound like a surrender. Following the latest media reports, Metas stock price initially came under pressure but subsequently rebounded.Meta Platforms (META.O) CEO: Believes that the long-term trend still aligns with the basic framework of departmental restructuring.According to The Information: Tesla (TSLA.O) has capped employee AI spending at $200 per week.Meta Platforms (META.O) CEO: The companys bet on restructuring has "not yet paid off."Meta Platforms (META.O) CEO: In early 2026, executives were concerned that they were "not moving fast enough" in the field of artificial intelligence.

Gold Maintains Its 8-Month High Ahead of A Data-Rich Week

Haiden Holmes

Jan 16, 2023 11:00

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On Monday, gold prices stabilized at recent highs as investors locked in profits and exercised caution ahead of a flurry of major economic data releases and central bank meetings from across the globe this week.


In recent weeks, the price of gold has increased significantly due to an increase in bets that the U.S. Federal Reserve will raise interest rates at a slower rate in the future months, thereby reducing the pressure on non-yielding assets.


Statistics indicating that inflation fell further in December supported this notion, which weighed on the dollar and yields on U.S. Treasury assets.


Fears of a recession in the world's leading economies prompted a rise in safe-haven demand for gold in 2018, as the effects of rapid interest rate hikes through 2022 became apparent.


This week, a deluge of data from the United States, Japan, China, the United Kingdom, and the Eurozone will shed light on any additional signs of sluggish development in major economies. China and Japan's interest rate decisions are also under scrutiny, with particular focus on the Bank of Japan following its unexpectedly hawkish tone at its December meeting.


Spot gold fell 0.1% to $1,918.49 per ounce, while gold futures held constant at $1,925.00 per ounce as of 19:33 E.T. (00:33 GMT). Since May 2022, both variables were near their best values.


Monday's trade volumes on the metals markets are anticipated to be low due to a U.S. holiday.


Last week, copper prices reached a seven-month high. On Monday, copper prices declined slightly. In anticipation of a resurgence in Chinese demand this year as a result of China's relaxation of most of its stringent anti-COVID regulations, bids for the red metal skyrocketed.


Copper futures fell 0.3% to $4.2060 per pound, but are up more than 10% so far this year.


In addition to robust demand patterns in China, the world's largest copper consumer, prices of the red metal are predicted to benefit from potential supply delays among important Latin American suppliers.

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