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Every year, electric vehicle (EV) investors, policymakers, and industry participants flock to San Francisco to attend the Bloomberg New Energy Finance (BNEF) EV Summit. The summit brings together the best minds in the global EV industry. The BNEF Summit quite often signals future trends and developments on the horizon in the EV industry. In this year's summit, there were some notable differences from last year. This may herald changes in the EV market going forward. Participants hailed the Inflation Reduction Act (IRA), as the most significant development for EVs globally in 2022. A majority – 65% - of the conference's participants said that it was the most important development around clean transport last year. Participants also said that they are eagerly awaiting the passage of similar legislation in the European Union. At the same time, there was a lack of buzz around IPOs, SPACs, and startups compared to last year. This could indicate a more focused industry going forward. China’s leading position in electric vehicle adoption and the supply chain for metals compared to the U.S. and Europe was also highlighted during the conference. China possesses the largest EV market, with the most electric vehicle chargers. Many at the conference agreed that the IRA could provide the U.S. the advantage it needs to become a global leader in EVs. Most importantly, the IRA may help bridge the production cost gap between the U.S. and China. For example, battery production costs $30 less per kilowatt-hour (kWh) in China. Meanwhile, the IRA provides up to $45 per KWH for battery research, innovation, and manufacturing. The IRA is already a success. It has incentivized many companies to announce new investments or accelerate plans. According to BNEF, the act has already led to nearly $29 billion worth of new investment in batteries and EV manufacturing. Another big topic at the conference was ensuring an adequate supply of the raw materials necessary to produce EVs. Some metals are seeing new supply become available rapidly. But the supply and demand imbalances for others are expected to persist for the foreseeable future. There is currently not enough copper, aluminum, nickel, cobalt, lithium, and manganese to electrify transportation fully. Possible solutions offered to this problem involve battery recycling and newly-developed sodium-ion batteries. These batteries can offer the same range with less lithium. Stay tuned for another year of change in the EV space. Tesla Reveals 2023 Master Plan Elon Musk just shared his new Master Plan for Tesla (NASDAQ: TSLA)... But what he didn't share is the +1,766% profit opportunity it has for investors who place the right trades, RIGHT NOW. Join me on Tuesday, March 7th at 12pm for the Musk Master Plan webinar event for details on my #1 hidden stock to BUY NOW! Click here to claim your spot—100% FREE! (No Strings Attached) Tony Daltorio Editor @ Wall Street Spy
Top Investment Ideas New 'iPhone 2007' Moment of 2023 Bank of America (NYSE: BAC) just said that Artificial Intelligence (AI) and ChatGPT are sparking a new ‘iPhone moment’. And that it will boost the economy by $15.7 trillion by 2030! In a new note to clients, Bank of America said there are 4 factors driving the AI revolution: Democratization of data, Unprecedented mass adoption, Warp-speed technological development, Abundant commercial uses. As BofA said: “We are at a defining moment—like the Internet in the 90s—where artificial intelligence is moving towards mass adoption, with large language models like ChatGPT finally enabling us to fully capitalize on the data revolution.” Google's New Plan to Catch ChatGPT A new internal directive at Google (NASDAQ: GOOGL) just said that AI needs to be incorporated into ALL of its biggest products within months. To the surprise of some, Google is NOT the early leader in generative AI software. That spot goes to startup OpenAI. The company released Chat GPT last November and—after more than 100 million users in less than 2 months—it is now the most viral app ever. Then Microsoft (NASDAQ: MSFT) threw their hat into the AI ring, announcing it would be integrating Open AI’s revolutionary AI chatbot into its Bing search engine. As Google’s CEO said – this game-changing tech will be “more profound than fire or electricity.”
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Inside Salesforce's New Einstein GPT It’s official. Salesforce (NYSE: CRM) is joining the ChatGPT mania. The company will release new AI software called Einstein GPT. . .becoming the latest tech powerhouse riding the new $5.9 trillion AI wave. Salesforce said their new AI software will help salespeople, customer service agents and marketers do their jobs. They’re drawing on OpenAI’s technology, the company behind ChatGPT. And they’re touting a new ChatGPT app for Slack. They haven’t finalized the pricing nor the timing for the new features. But it’s crystal clear that their CEO sees MASSIVE potential in AI. Fed Officials Issue New Warning Two Federal Reserve officials just said that more aggressive interest rate hikes are likely necessary to tame inflation. Minneapolis Fed President Neel Kashkari said that he’s “open-minded” about the Fed raising rates by 25 or 50 basis points at its next policy meeting on March 21-22. And Atlanta Fed President Raphael Bostic has a similar view. He believes the Fed needs to raise its rate by 50 basis points to 5%-5.25% – and hold it at that level until well into 2024. That's why this is a great time for income investors – higher rates mean higher income from every investment.
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