This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribegained almost 0.5% even as Federal Reserve Chair Jerome Powell said the central bank would need to be patience with its monetary policy given stubborn inflation. The yield on the 10-yearMonday's gains after "Roaring Kitty" made a reappearance.
Meme stocks are back in vogue with the emergence of"Roaring Kitty." This time, it extends beyond GameStop and AMC Entertainment. CNBC's Yun Li takes a look aton Monday — a move that could spell the end of Siri and Alexa. In a demonstration, it effortlessly translated Italian to English on an Apple iPhone, and even solved a difficult math problem.
"We suspect that Apple is nowhere near, internally, to what OpenAI just demoed," wrote Rosenblatt analyst Barton Crockett."If Google can't match OpenAI's capabilities at I/O, then Apple will be under significant pressure to partner with OpenAI to modernize Siri for the current state of AI.". The estimated $1 trillion AI market is at stake, and Google has been caught off guard, ironically, because it has been funding and sharing much of its AI research.
Hua responded:"Translation: We'll support US industries with subsidies because it's strategic, but when others do it, it's unfair competition." — CNBC's Jeff Cox, Alex Harring, Rebecca Picciotto, Yun Li, Sam Meredith, Arjun Kharpal, Jasmine Wu, Jennifer Elias and Deidre Bosa contributed to this report.Couple grew their basement side hustle into a business bringing in $4.5M per year: We'd ‘never seen anything like that in a bank account'
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