AI fever takes over Davos pushing crypto aside as the new cool kid on the block
Publishing timestamp: 2024-01-15 18:59:38
Summary
The World Economic Forum in Davos has seen a shift from cryptocurrency firms dominating the main strip to artificial intelligence (AI) companies promoting their products and services. This reflects the rapid rise in AI investments and interest, sparked by the popularity of OpenAI's AI chatbot, ChatGPT. Global technology companies are competing to establish themselves as leaders in AI, with many showcasing their AI capabilities at Davos. The article also mentions the decline in presence from the crypto industry at Davos, with AI becoming the dominant technology. However, there are still some crypto firms present, and the industry had a better year in 2023 compared to 2022. The approval of a bitcoin ETF by the U.S. Securities and Exchange Commission is seen as a milestone that solidifies crypto's position as a legitimate asset class.
Sentiment: NEUTRAL
Tickers: BTC.CM=, INTC, MSFT, USDC.CM=, META, NVDA, CRM, PFE,
Keywords: switzerland, bitcoin/usd coin metrics, pfizer inc, markets, economy, cryptocurrency, davos, business news, nvidia corp, artificial intelligence, usd coin/usd, intel corp, technology, meta platforms inc, microsoft corp, salesforce inc,
Source: https://www.cnbc.com/2024/01/16/davos-2024-ai-takes-over-wefs-main-area-pushing-crypto-aside.html