15:07:20 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Apple CDR (CAD Hedged)
Symbol AAPL
Shares Issued 7,650,000
Close 2023-11-28 C$ 28.32
Market Cap C$ 216,648,000
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FP/wire say Nvidia, others told of cracks in AI hype

2023-11-29 09:44 ET - In the News

See In the News (C-NVDA) Nvidia CDR (CAD Hedged)

The Financial Post reports in its Wednesday edition that fund managers focused on environmental, social and governance metrics who turned to big tech as a low-carbon, high-return bet are growing increasingly anxious over the sector's experimentation with artificial intelligence. A Bloomberg dispatch to the Post says that exposure to AI now represents a "short-term risk to investors," said Marcel Stotzel, a London-based portfolio manager at Fidelity International Ltd. Mr. Stotzel said he is "worried we'll get an AI blowback," which he describes as a situation in which something unexpected triggers a meaningful market decline. "It takes just one incident for something to go wrong and the material impact could be significant." Examples that Mr. Stotzel said warrant concern include fighter jets with self-learning AI systems. Fidelity is now among the fund managers talking to the companies developing such technologies to discuss safety features such as a "kill switch" that can be activated if the world one day wakes up to "AI systems going rogue in a dramatic way." The ESG investing industry may be more exposed to such risks. The world's biggest ESG exchange-traded fund is dominated by Apple, Microsoft, Amazon and Nvidia.

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