Fed's Miran says interest rates much too high, Nvidia plans $100B in OpenAI data centers

Group 1: Federal Reserve Insights - Newly installed Fed Governor Steven Myron argues that current interest rates are too high, suggesting they should be approximately 2 percentage points lower to avoid higher unemployment [12][13][15] - Myron voted for a 50 basis point rate cut in the last FOMC meeting, indicating a preference for more aggressive monetary easing [13][14] - Other Fed officials express mixed views, with some supporting rate cuts while others caution against inflation risks [17][18] Group 2: Nvidia's Investment in AI - Nvidia plans to invest up to $100 billion in OpenAI to build data centers, which will significantly enhance AI infrastructure [3][65] - This investment is expected to create 10 gigawatts of new AI data center capacity, reinforcing Nvidia's position in the AI economy [65][66] - Nvidia's stock rose nearly 4% following the announcement, contributing to record highs in major indices [5][63] Group 3: Oracle's Strategic Moves - Oracle's stock increased by 5% after announcing a leadership change and plans to lead a consortium for TikTok's US assets [35][36] - The company is positioned for growth driven by AI, with a focus on becoming a key player in the hyperscaler market [38][40] - Oracle's dual CEO structure aims to balance applications and infrastructure, potentially enhancing its operational efficiency [41][45] Group 4: Gold and Crypto Market Trends - Gold prices have surged 40% year-to-date, with expectations for continued bullish trends amid a lower dollar and Fed easing [85][87] - In contrast, cryptocurrencies like Bitcoin and Ethereum are experiencing declines, attributed to seasonal volatility and market dynamics [88][89] Group 5: Google's Legal Challenges - Google faces a new antitrust trial focusing on its advertising practices, with the government seeking to loosen its control over the ad exchange market [92][96] - The outcome of this case may be influenced by recent rulings regarding Google's search business, highlighting the evolving regulatory landscape [93][96]