{"id":73918,"date":"2023-10-18T06:52:21","date_gmt":"2023-10-18T10:52:21","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/wall-street-breakfast-podcast-foxconn-nvidia-partner\/"},"modified":"2023-10-18T06:52:25","modified_gmt":"2023-10-18T10:52:25","slug":"wall-street-breakfast-podcast-foxconn-nvidia-partner","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73918","title":{"rendered":"Wall Street Breakfast Podcast: Foxconn, Nvidia Partner"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture>  <\/picture><figcaption> <\/figcaption><\/figure>\n<\/p>\n<p>Listen below or on the go on Apple Podcasts and Spotify<\/p>\n<div class=\"pcast hidden-print\">\n<div class=\"pcast__section-1\">\n    <img decoding=\"async\" alt=\"\" class=\"pcast__top-img pcast__marketing\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/podcast_series_header.png\">\n  <\/div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/widget.spreaker.com\/player?episode_id=57287616&amp;theme=light&amp;playlist=false&amp;playlist-continuous=false&amp;chapters-image=true&amp;episode_image_position=right&amp;hide-logo=true&amp;hide-likes=true&amp;hide-comments=true&amp;hide-sharing=false&amp;hide-download=true&amp;color=ff6900\" width=\"100%\" height=\"200px\" frameborder=\"0\" sap-id=\"4\"><\/iframe><\/p>\n<\/div>\n<p>Foxconn (OTCPK:FXCOF), Nvidia (NVDA) tie up to build AI factories. (00:25) Microsoft (MSFT) said to sell $1B in 365 cloud tools to Amazon (AMZN): report. (01:18) RE\/MAX says September home sales saw Y\/Y decline of 17%. (02:11)<\/p>\n<p>This is an abridged transcript of the podcast.<\/p>\n<p>Foxconn (OTCPK:FXCOF) and Nvidia (NASDAQ:NVDA) are partnering up.<\/p>\n<p>The world&#8217;s largest contract electronics manufacturer will join hands with Nvidia to build artificial intelligence factories for a range of applications including self-driving cars.<\/p>\n<p>Nvidia\u2019s (NVDA) CEO said, &#8220;In the future, every company, every industry, will have AI factories.&#8221;<\/p>\n<p>The announcement was made at Foxconn&#8217;s (OTCPK:FXCOF) tech showcase in Taipei. The AI factories &#8211; will be used for training autonomous vehicles, language-based generative AI and robotics platforms.<\/p>\n<p>Foxconn (OTCPK:FXCOF) will use Nvidia&#8217;s (NVDA) latest chips &#8211; including the GH200 superchip that it is not allowed to sell in China &#8211; and software to build these data centers.<\/p>\n<p>Foxconn\u2019s chairman did not clarify how these AI factories would differ from existing rival ones that use Nvidia&#8217;s (NVDA) technology.<\/p>\n<p>It looks like Microsoft (NASDAQ:MSFT) has nailed a $1B megadeal with Amazon (NASDAQ:AMZN).<\/p>\n<p>The Insider reported, citing an internal document and a person familiar with the matter, that Microsoft is set to add Amazon as a customer of its 365 cloud tools.<\/p>\n<p>Amazon (AMZN) and Microsoft (MSFT) compete in web services and are generally considered to be rivals, especially in the cloud computing space.<\/p>\n<p>The report says that Amazon (AMZN) purchased more than 1M license seats for the 365 suite and committed $1B to the deal over 5 years.<\/p>\n<p>This would shift the company to cloud-based tools for corporate employees and frontline workers starting next month.<\/p>\n<p>Amazon and Microsoft did not immediately respond to a request for comment from Seeking Alpha.<\/p>\n<p>Amazon (AMZN) is already a customer of localized Microsoft (MSFT) Office products.<\/p>\n<p>Re\/Max Holdings (RMAX) said on Tuesday the number of homes on the market grew month over month for a sixth consecutive month in September as sales declined 13.8% from August and 17% from a year ago.<\/p>\n<p>The company said the 9.3% increase in inventory was the largest month-over-month increase in 14 months.<\/p>\n<p>Despite growth in inventory over August 2023, new listings were down 1.8% from August and 7.8% Y\/Y.<\/p>\n<p>With three months left in 2023, the median sales price of $415,000 posted a seasonal decline of 2.4% month over month \u2013 last September&#8217;s sequential drop was 1.2% \u2013 but remained 2.5% higher than last September&#8217;s $405,000.<\/p>\n<p>Other articles to look out for on Seeking Alpha:<\/p>\n<p>VMware falls amid report about China&#8217;s review of Broadcom deal (update)<\/p>\n<p>U.S. Bancorp stock spikes as Fed exempts firm from Category II requirements<\/p>\n<p>Netlist plunges amid 9th Circuit Court appeals ruling in Samsung fight (update)<\/p>\n<p>On our catalyst watch for the day,<\/p>\n<ul>\n<li>\n<p>Oracle (ORCL) management will give a product keynote presentation at the company&#8217;s SuiteWorld event in Las Vegas.<\/p>\n<\/li>\n<li>\n<p>The IPO lockup period expires on Jayud Global Logistics (JYD).<\/p>\n<\/li>\n<li>\n<p>Tesla (TSLA) will hold its Q3 earnings conference call. Options trading on Tesla implies a 7% swing up or down for shares after the report drops. Tesla shed just under 10% after its last earnings report. Fisker (FSR) and Rivian Automotive (RIVN) are the two EV stocks that correlate the closest to Tesla.<\/p>\n<\/li>\n<\/ul>\n<p>Wall Street&#8217;s major averages on Tuesday ended near the flatline.<\/p>\n<p>The Nasdaq Composite (COMP.IND) slipped 0.25%. The S&amp;P 500 (SP500) was little changed. The Dow (DJI) posted marginal gains, adding 0.04%.<\/p>\n<p>Of the 11 S&amp;P sectors, seven closed in the green, led by Materials and Energy. Tech topped the losers.<\/p>\n<p>Treasury yields jumped after the retail sales report. The 10-year yield (US10Y) soared to a session high of 4.86%, its highest level since 2007. The 2-year yield (US2Y) was up 12 basis points to 5.22%<\/p>\n<p>Now let\u2019s take a look at the markets as of 6 am. Ahead of the opening bell today, Dow, S&amp;P and Nasdaq futures are in the red. The Dow is down 0.2%, the S&amp;P 500 is down 0.3% and the Nasdaq is down 0.4%. Crude oil is up 3% at more than $89 a barrel.<\/p>\n<p>In the world markets, the FTSE 100 is down 0.4% and the DAX is down 0.3%.<\/p>\n<p>The biggest movers for the day premarket: Viking Therapeutics&#8217; (NASDAQ:VKTX) is up 10% after clinical results from a Phase 1 trial on its obesity drug, VK2735, were released. Despite exceeding expectations in Q3, United Airlines (NASDAQ:UAL) is down 5% as the carrier&#8217;s Q4 EPS projection fell short of market expectations.<\/p>\n<p>On today\u2019s economic calendar:<\/p>\n<ul>\n<li>\n<p>8:30 am housing starts and permits<\/p>\n<\/li>\n<li>\n<p>12 pm the Fed\u2019s Christopher Waller will speak on the economic outlook at an event in London.<\/p>\n<\/li>\n<li>\n<p>At 6:55 pm The Fed\u2019s Lisa Cook will speak on The Evolution of the Federal Reserve&#8217;s Employment Mandate at a ceremony at the 2023 Future of Black Communities Summit in Washington, D.C.<\/p>\n<\/li>\n<\/ul>\n<p>Editor&#8217;s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4641484-wall-street-breakfast-podcast-foxconn-nvidia-tie-up-to-build-ai-factories?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen below or on the go on Apple Podcasts and Spotify Foxconn (OTCPK:FXCOF), Nvidia (NVDA) tie up to build AI factories. (00:25) Microsoft (MSFT) said to sell $1B in 365 cloud tools to Amazon (AMZN): report. (01:18) RE\/MAX says September home sales saw Y\/Y decline of 17%. (02:11) This is an abridged transcript of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":73919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-73918","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wall Street Breakfast Podcast: Foxconn, Nvidia Partner | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Listen below or on the go on Apple Podcasts and Spotify Foxconn (OTCPK:FXCOF), Nvidia (NVDA) tie up to build AI factories. 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