Hi Everyone. This is Take Off. We're like a hidden Easter egg in your favourite video game - surprising, delightful, and adding an extra layer of fun to your tech news consumption

Here's what we're serving up today:

• AI Ignites Bull Run Amid Economic Gloom 🤑⬆️

• SoftBank's Billion-Dollar Bet 💵💻

• Asteroids ☄️

• ToolBox Thursdays ⚒️

AI Ignites Bull Run Amid Economic Gloom 🤑⬆️

The US Stock bazaar recently entered it’s newest bull market, all thanks to 2 words: Artificial Intelligence.

However, in this high-stakes game of Wall Street Roulette, investors are biting their nails, asking themselves: is this a red-hot rocket about to explode before even taking off or can it actually reach the moon?

The Bulls. With stars in their eyes, they're betting on companies dousing cash into artificial intelligence, foreseeing a tech revolution that can transform society in the coming years.

The Bears. Those old souls who've weathered one too many boom-and-bust cycles. They're squinting at the high-flying tech stocks and cautioning us all: "Remember the dot-com bust, folks.”

Now let's add a dash of Federal Reserve spice into this boiling pot. JPow and Co. have hinted at a couple of more interest hikes before the end of 2023.

This can spook investors away from Tech Stocks. Why, you ask?

Well, investors don’t invest in tech companies for short-term profit. They're playing the multiplier game where they want their money to google-tuple in 5 or 10 years.

However, when interest rates rise quickly, the wolfs can get better returns from other assets such as Treasurys.

This is what called the Tech Bubble bust last year. However, investors this year around are still pouring money in tech companies despite interest rates hike news. Why, then?

Well, it seems like the market thinks that JPow is bluffing and there'll be no interest hikes.

One analyst even said : “I feel like there’s a better chance of me playing in the NBA than the Fed raising two more times, and I’m not a good basketball player”.

Damn son! Now, that’s what we call a BURRRNNN!

Tech stocks however are partying like there's no tomorrow. The tech heavy Nasdaq Composite has soared by a staggering 31% this year.

So, dear investors, let's enjoy the bull run, but with a pinch of salt. Just remember, in this sea of gains, not all boats are catching the high tide.

SoftBank's Billion-Dollar Bet 💵💻

SoftBank, the heavyweight investor known for its rollercoaster rides, is strapping on its armor, unsheathing its sword, and stepping into the ring to lead the AI revolution!

Remember when SoftBank seemed down for the count after the dotcom boom? Well, they rose like a phoenix with a little help from Alibaba. Now, they're back, and this time it's all about artificial intelligence.

Why is SoftBank diving headfirst into the AI frenzy?

As the demand for cutting-edge chips skyrockets, thanks to the AI boom, SoftBank stands to gain from its 75% stake in Arm, the chip designer extraordinaire. And with Nvidia in the mix, whose stock has soared along with the AI wave, SoftBank's stock has enjoyed a 37% jump.

However, SoftBank needs to keep its wits about it this time. Remember the impulsive investment spree of yesteryears that left them nursing some painful losses? (cough WeWork cough)

Yeah, they don't want a repeat of that melodrama.

As SoftBank plans to take ARM public, their pending IPO is being viewed as a significant milestone in SoftBank's journey. Yoshimitsu Goto, the company's CFO, gave a thumbs up by declaring that the IPO process is sailing smoothly.

The valuation of ARM is an exciting testament to the potential of AI. Analyst Amir Anvarzadeh thinks ARM could be worth a jaw-dropping $60 billion!

The successful listing of ARM would be a powerful sign of SoftBank's tech prowess and their commitment to riding the AI wave. It also shows how SoftBank is trying to monetize its investments while cashing in on the AI trend. This is a major chess move, and all eyes will be on how it pans out.

☄️ Asteroids ☄️

Threads, Meta’s Twitter competitor, is now live!! While it's not out in the EU yet, it promises broad reach by supporting ActivityPub, the same protocol used by Twitter rival Mastodon. 🌐📱

Samsung is all set to unveil its Galaxy Fold 5 and Galaxy Flip 5 at its "On the Flip Side" event on July 26. Also on deck are the Galaxy Watch 6 and Samsung Tab S9 series. Foldables are definitely trending! 📱⌚

Twitter's former employees are suing again, this time over unpaid arbitration costs. Seems like the platform's troubles aren't over yet! 💼🐦

⚒️ ToolBox Thursdays ⚒️

WorkOS - APIs to make your app enterprise ready

Whimsical - Translate ideas into flowcharts in seconds

Fliki - Video creation made 10x simpler & faster with AI

Simplescraper - Pull Insights from any Website using AI.

HeyHaddock - Travel planning made quick & easy with AI

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