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We’re halfway through the week - hang in there! 🐪 See what we have cookin’ today:
👉 Costco gold bars
👉 Intel’s new AI CHIP
👉Boeing deliveries are in
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COSTCO: Gold Bars Revenue
Costco has successfully ventured into selling gold, quickly turning it into a significant revenue source. Wells Fargo analysts believe Costco's gold sales might now reach $100 to $200 million monthly, a significant jump since its launch in late summer 2023. By the end of November 2023, Costco had already made about $100 million from gold, selling nearly pure 24-karat gold bars. These bars are sold at a slight markup over the market price, approximately 2% above the current rate of $2,357 an ounce.
Source: People
The rise in gold prices, over 13% in 2024 due to inflation and economic concerns in the U.S., has made selling gold an attractive option for Costco. However, there are limitations on purchases and the profit margins on gold sales are slim.
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INTEL: New AI Chip
Intel introduced its new AI chip, Gaudi 3, aiming to compete in the market by offering a more energy-efficient and faster alternative to Nvidia's H100 GPU. Available in various formats, including a multi-chip board and a single-card option, Gaudi 3 stands out for its performance and lower power use.
Source: CNBC
As Nvidia dominates the AI chip market, Intel's release signals a growing demand for affordable AI processing solutions, with companies like Dell and Hewlett Packard Enterprise set to incorporate Gaudi 3 into their offerings.
BOEING: Delivery Numbers
Boeing's deliveries dropped to a low since mid-2021, with only 83 planes delivered in the first quarter after a safety incident with a 737 Max 9. Despite this, Boeing received 111 new orders, showing continued market demand.
Source: Boeing
Following the incident, the FAA has tightened oversight on Boeing, leading to production slowdowns and leadership changes. Boeing compensated Alaska Airlines $160 million for the disruption and plans to update investors on April 24.
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Source: Statista
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