Plus: IBM says new research shows quantum computers can outperform conventional ones. And investors and analysts are awaiting Amazon’s latest earnings. Danny Lewis hosts.
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[00:00:00] Think all wealth managers are the same? Fisher Investments is clearly different. As a fiduciary, Fisher always does what's best for its clients. They don't sell commission-based investment products or make commissions on trades. Their fees are structured so they do better when clients do better. That might be why many of their clients come from other wealth managers. Visit fisherinvestments.com for more. Investing in securities involves the risk of loss.
[00:00:28] Here's your morning TNB Tech Minute for Thursday, July 30th. I'm Danny Lewis for The Wall Street Journal. The European Union has formally launched a bidding process for building seven gigafactories dedicated to developing and training next-generation AI models. The tender will be supported by almost $11.5 billion in public funding from the EU and member states.
[00:00:49] The projects are expected to be operational within 18 months of the contract signing, with award decisions to come in early 2027. The move is part of a broader push by the EU's executive arm to boost the bloc's own tech ecosystem and catch up with countries such as the US and China. IBM has published new research it says shows the point at which quantum computers can perform beyond conventional ones, and that the results can be rigorously validated.
[00:01:14] The findings were published in three papers by Big Blue and its research partners, including the University of Chicago. They mark a step towards the practical application of quantum computing, and analysts say the ability to replicate the technology's results is a significant step towards showing the systems are reliable and consistent. IBM is racing to show that its business in the nascent field can be profitable after the company suffered its biggest share drop in history earlier this month as customers shifted spending from software to AI, hardware, and memory chips.
[00:01:45] And investors are awaiting another dispatch from the front lines of the AI build-out as they watch for Amazon's latest quarterly earnings coming this afternoon. Analysts are expecting the company's revenue to come in at more than $197 billion for the quarter, up 17.5% from the year before. They're also projecting the online retail giant to have capital expenditures of about $200 billion for the calendar year, and are watching to see if Amazon will have negative free cash flow for a second quarter in a row.
[00:02:14] That's your T&B Tech Minute. Join us again this afternoon for more. Think all wealth managers are the same? Fisher Investments is clearly different. As a fiduciary, Fisher always does what's best for its clients. They don't sell commission-based investment products or make commissions on trades. Their fees are structured so they do better when clients do better. That might be why many of their clients come from other wealth managers. Visit fisherinvestments.com for more. Investing in securities involves the risk of loss.