OpenAI signs $38 billion agreement with Amazon to provide Nvidia chip computing power support
Foresight News reported that Amazon's cloud computing division, AWS, has signed a $38 billion agreement with OpenAI to partially support OpenAI's nearly "bottomless" computing demands. According to the announcement, this seven-year partnership will grant ChatGPT developers access to hundreds of thousands of Nvidia GPUs through AWS. This arrangement marks OpenAI's transformation from a research lab into an AI giant redefining the technology industry landscape. The company plans to invest up to $1.4 trillion in infrastructure to train and operate its artificial intelligence models.
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Deutsche Bank: After the three major central banks hiked rates simultaneously, the market may once again underestimate the terminal interest rate
Deutsche Bank points out that as central banks in the US, Europe, and Japan are tightening policy simultaneously, the market may still be underpricing the eventual terminal rates. With oil prices remaining high, inflation may spill over into core inflation and wages. Moreover, financial conditions have not tightened in tandem, which could weaken the effect of rate hikes. Citing the experience of 2022, Deutsche Bank notes that the market then expected a total of around 200 basis points of Fed rate hikes in the first year, but the final figure exceeded 400 basis points, illustrating that the market often underestimates the terminal rate.
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