Iranian foreign minister Abbas Araghchi responds to U.S. strikes on Iran's Kharg Island, telling @/ayman that Iranian forces "would retaliate if our oil and energy infrastructure are attacked...and they will attack any energy infrastructure in the region which belongs to an American company." MS NOW: My Source for News, Opinion, and the World. » Subscribe to MS NOW: https://www.youtube.com/@msnow MS NOW is the go-to destination for domestic and international breaking news, and best-in-class opinion journali ...

Aramco's Diversification and Technology Strategy - Aramco is diversifying its revenue streams and investing in technology due to the International Energy Agency's prediction of plateauing global oil demand by 2030 [3] - The company is leveraging AI to improve operations, increase well productivity, and manage costs [5][6] - Aramco's cost per barrel of oil equivalent has remained at $3 for 20 years due to technology [6] - Aramco has invested tens of billions of dollars in computing infrastructure and possesses 90 years of high-quality data, giving it a competitive edge in AI adoption [7] AI and Data Infrastructure - Aramco's Opus center monitors real-time data from over 100,000 sensors across more than 100 plants, optimizing efficiency and reducing costs [4] - The company has 6,000 employees trained in AI [8] - Aramco utilizes its own large language model, Aramco Metabrain, comprised of 90 years of geological data to increase efficiency [9] Investments and Future Goals - Aramco's venture capital arm, Wa'ed Ventures, earmarked $100 million for early-stage AI investments last year [10] - Aramco aims to transform Saudi Arabia into a global AI hub [10] - Aramco is a large minority shareholder in Humane, Saudi Arabia's new national AI company [11] - The company is increasing its focus on natural gas and renewables to power data centers required for the AI revolution [12]

Earnings Expectations - Earnings expectations for Q3 are down 2% quarter over quarter, similar to the setup seen in Q2 [2] - In Q2, consensus earnings expectations for the broader market (excluding technology) were about 2.5%, while realized earnings growth was 8.5%, indicating significant upside potential [3] Market Performance - The Dow and S&P indices experienced their best week since August, reflecting a positive sentiment in the market [1] - Despite some sectors underperforming, such as regional banks and oil, defensive sectors like healthcare, utilities, and gold are performing well [5] Sector Analysis - Regional banks have underperformed by more than 25 percentage points compared to large banks since early 2023, suggesting a preference for large banks as a safer investment [8] - The oil sector is facing challenges due to excess supply following the end of the US driving season, leading to a lack of allocation in energy assets [7] Investment Strategy - The strategy involves not completely rotating away from AI and tech stocks but also considering buying dips in banks and looking at industrials [9] - Gold is being recommended alongside tech stocks, driven by factors such as China's gold stockpiling and central bank diversification [10][14]