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Leopold Aschenbrenner's fund was forced to sell most of its $16 billion stock portfolio to Citadel.
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The tech giant's free cash flow crashed from $8.55 billion to $784 million, and next year's AI bill could be even bigger.
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Apple and Amazon are both being hurt by higher memory prices.
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Investors are reacting negatively to weak guidance brought on by supply-chain pressures.
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Meta's spending on AI is ramping, and investors want proof that the company can make serious money in areas other than advertising.
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Jersey Mike's priced its initial public offering at $23 per share.
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