Comment of the Day
9th May 2023
Eoin Treacy
May 10
Video commentary for May 9th 2023
A link to today's video commentary is posted in the Subscriber's Area.
Some of the topics discussed include: AI related stocks continue rebound, precious metals firm, oil steadies, long lead time for EVs in planes and China controls supply chains
AMD To Showcase Next-Generation Data Center And AI Technology At June 13 Livestream Event
This newswire may be of interest.
Today, AMD (Advanced Micro Devices, Inc. (NASDAQ:AMD)) announced the "AMD Data Center and AI Technology Premiere," an in-person and livestreamed event to showcase the company's growth strategy and expanding product portfolio and capabilities for data center and AI. AMD Chair and CEO Dr. Lisa Su will be joined by other AMD executives and key customers to detail new products, and momentum across data center, AI, adaptive and high-performance computing solutions.
Eoin Treacy's view
Since the GPT chatbot reveal a few months ago Nvidia has been the go-to investment destination for traders looking for an AI proxy. The company is the leader in developing the kind of graphics cards required to parse image data for the AI sector. That has fuelled both a rebound in the semiconductor sector and a rush by companies to compete.
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Boeing Wins $40 Billion Ryanair Order for 737 Max Jets
This article from Bloomberg may be of interest. Here is a section:
The huge commitment to Boeing’s largest 737 variant marks an important endorsement from one of the US manufacturer’s most loyal customers and highlights how carriers are willing to splurge on fleet upgrades again as air travel rebounds. Ryanair said the deal — the largest order ever placed by an Irish company for US manufactured goods — was more expensive than its current crop of 737 deliveries.
“We paid more per seat but we’re still incredibly happy with the deal we’ve done,” Chief Executive Officer Michael O’Leary said at a news conference. “We think the extra seats give us the revenue-earning potential.”
Deliveries will start in 2027 and run through 2033. Ryanair said discussions surrounding the purchase started in January, and half the order is earmarked for replacement of older 737NG models while the other half is reserved for growth.
Eoin Treacy's view
From Boeing’s perspective this is a big vote of confidence in the 737 Max. Considering several of the aircraft have fallen out of the sky, there was understandable reticence among customers to buy them. Boeing is obviously hoping this order will mark a recovery for commercial aircraft sales.
This section continues in the Subscriber's Area.
Fire on 'Shadow' Tanker off Malaysia is Extinguished, Search Continues
This article from Maritime-Executive.com may be of interest. Here is a section:
During a press briefing in Malaysia, the Russian captain of the vessel described the situation saying that he had discovered a fire amidship early afternoon on Monday. The initial discovery of smoke was followed by one or more loud explosions which he said shook the vessel, broke the windows, and rendered most of the communications systems inoperable.
“The fire on the upper deck destroyed our aerial, none of the communication equipment was functioning,” the captain told NST TV in Malaysia. “I had to use the walkie talkie …I finally got in touch with our engineer via the walkie talkie but by then all our safety boats were destroyed.”
The captain said the desperate crew had gone into the water in their life jackets and luckily two ships were in the immediate area to assist with the rescue. He said in the confusion with the crew going in all directions it had been impossible for him to get a head count. He said the fire was also being spread by windy conditions.
Eoin Treacy's view
The tankers carrying Russia oil around the world can’t be insured. That means the only ships anyone is willing to send on those journeys are decrepit and old. Most are probably on the verge of being scrapped. It is only a matter of time before one of these vessels sinks, with a full cargo onboard. That will create an international incident where no one will take responsibility and there will be no insurance cover.
© 2023 Eoin Treacy
548 Market Street PMB 72296, San Francisco, CA 94104
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