Nasdaq Stumbles Amid AI Bubble Concerns [3-Minute Brief]

[At a Glance]
① OpenAI Unveils Search Engine 'SearchGPT'
② Jim Keller Receives Love Call from Korean Startup 'More'
③ Musk Discusses 7 Trillion Won Investment in xAI

MARKET INDEX : Year to date

- This week’s KOSPI band expected between 2630 and 2780
- US FOMC decision hinges on big tech earnings rebound
- Corporate earnings including Microsoft to be released starting the 30th

TOP 3 NEWS

■ OpenAI unveils search engine 'SearchGPT'…Challenges Google

- Launched an interactive search engine
- Expected to pose a direct threat to Google
- Alphabet’s stock fell 3% after announcement

■ Startup led by Choi Tae-won’s eldest son-in-law receives 'love call' from semiconductor legend Jim Keller

- Jim Keller joins AI startup 'More' with merger restrictions
- Strategic collaboration with US AMD…Company valued at 1 trillion KRW
- Anticipation as a rival to Nvidia’s CUDA

■ Musk: "Tesla discussing 7 trillion KRW investment in xAI"…Stock rises 2%

- $5 billion investment in AI startup xAI
- Polls on X platform to gather public opinion
- xAI chatbot 'Grok' may be integrated into Tesla

Graphic News: AI training costs surged 18-fold in 3 years…“There’s a reason for the Nasdaq shock”

- Big tech earnings concerns → US stock market plunge…'AI bubble theory' spreads
- Astronomical costs underlie doubts about AI companies’ profitability
- Training costs from GPT-3 to GPT-4 increased 18 times…Results remain limited

the Chart: Wemakeprice incident fallout, urgent check on e-commerce

- Impact of Wemakeprice and TMON incidents spreading across e-commerce
- Wemakeprice and TMON recorded complete capital erosion over the past 3 years
- Coupang, Gmarket, SSG.com, and Kurly also continue to post losses

Terms in the News: Will the TMON and Wemakeprice incidents be resolved by introducing 'escrow'?

- Escrow is a transaction protection service where a third party mediates commerce
- Also called 'safe payment' online…Naver Pay is a representative example
- Immediate refunds available when returns are requested…Prevents online transaction fraud

Today’s Key Schedule

○ Domestic
- 29th: KOSDAQ listing of Sanil Electric, offering price 35,000 KRW

○ Overseas
- 15:00 Germany May retail sales
- 20:30 Brazil June debt ratio
- 23:30 US July Dallas Fed manufacturing activity index

◇ Lunch & Commute Weather

○ Low temperature 26℃(▼1℃) ｜High temperature: 30℃(▼4℃)
○ Precipitation probability morning 60%｜afternoon 60%
○ Fine dust morning good｜afternoon good

3 minutes is all it takes, essential time-efficient economic news. Published daily at 8 AM.

This content was produced with the assistance of AI translation services.