💻ChatGPT: From Novelty to Necessity - Embraced by 23% of Americans🗽

Happy Monday, Bullseye Traders! 

Could ChatGPT outshine Google ($GOOG)? Well, if Nvidia’s ($NVDA) skyrocketing share price is any indication, the answer might just be a witty "yes!" But let’s not jump to conclusions; let's consult the data, shall we?

According to Pew Research, ChatGPT’s popularity among Americans has been on a steady incline, rising from 18% last July to a cool 23% in February. And guess who's leading the charge? The young guns! Usage among those aged 18-29 has shot up to a whopping 43%. Seems like the future is conversational.

And in the world of big bucks and boardrooms, OpenAI is making waves. Brad Lightcap, the COO, spilled the beans in a Bloomberg interview, boasting a meteoric rise in enterprise users from 150K to a staggering 600K in just a few months. He even went as far as prophesying that 2024 will be "the year of adoption for AI." Bold words, Mr. Lightcap.

But wait, there’s more! OpenAI isn’t just riding the wave; it’s making waves of its own. Talks with publishers are in full swing, aiming to nab content for training its AI and seamlessly integrating it into ChatGPT. And don’t forget the battle for brains! Top-notch AI researchers are ditching Big Tech to launch their own startups, sparking a fierce talent war and pushing the median compensation for AI engineers to an eye-watering $400K.

So, buckle up, folks! The AI revolution is here, and ChatGPT might just be the witty underdog to watch out for.

Private Companies like SpaceX, OpenAI Hit Stock Market – Catch Involved

SpaceX, the undisputed overlord of the cosmic market (unless there's some secret alien empire out there), was rumored to be on the brink of raising a funding round in December that would make Elon Musk's interstellar venture worth a mind-boggling $175 billion. That's enough to make it the runner-up among the world's most valuable private companies, rubbing shoulders with the likes of Intel ($INTC), Uber ($UBER), and American Express ($AXP) in the S&P 500 constellation.

Beyond merely flinging satellites and astronauts into the cosmos, SpaceX is also busy weaving the web of its satellite internet network and crafting a rocket to whisk us off to Mars. Who wouldn't want a piece of that celestial pie? But for us mere Earthlings in the public market, snagging shares in this cosmic juggernaut has been akin to trying to catch stardust—elusive and nearly impossible. Until now.

Enter stage left: Last week, the curtain rose on Destiny Tech100 ($DXYZ), the first publicly traded US fund exclusively devoted to cradling private companies. Finally, investors can hitch their wagons to America's most valuable private enterprises, with SpaceX shining bright like a rocket beacon, comprising a weighty 35% of its celestial cargo.

In its inaugural performance, the ETF blasted off with a staggering 177% surge, fueled by demand that shot through the stratosphere.

But SpaceX isn't the sole star in this cosmic cabal. The fund boasts a constellation of 22 other companies in its portfolio, with plans to expand its celestial choir to over 100 companies.

A celestial pipeline to the public market

Several other global private entities are also hitching a ride in the fund, including Epic Games, Chime, and Stripe, all reportedly eyeing their debut in the public domain by 2024 or 2025.

Among the other luminaries in the firmament are Axiom Space (9.7%), Boom Supersonic (4.6%), and OpenAI (3.8%).

Unlike your run-of-the-mill ETFs like the Vanguard S&P 500 ETF, this fund is more hands-on and comes with a rather steep 2.5% annual management fee.

But wait, there's a cosmic catch... The fund might occasionally trade at a premium, leaving investors potentially overpaying for a piece of the cosmic pie. Between May 12, 2022, and Dec. 31, 2023, Destiny's net asset value took a nosedive by 23%, mirroring a sharp decline in startup valuations. While SpaceX's fortunes soared by nearly 30%, the values of its Stripe and Epic Games siblings plummeted by over 60%. Should the space startup's funding voyage hit turbulence, investors in Destiny might find themselves floating adrift (regardless of whether it's reflected in $DXYZ's price), even as SpaceX continues its cosmic odyssey.

SHAKERS AND MOVERS

Shockwave Medical, Cinemark, & Enphase Energy: A Tale of Twists and Turns in the Stock Market

SWAV (+2%): Shockwave Medical Sends Shockwaves Through Market as J&J Seals $12.5 Billion Deal.

ATUS (-5%): Altice USA's Cable Connection Fizzles After Wells Fargo's Doubtful Downgrade.

CNK (+5%): Cinemark's Silver Screen Success - Wells Fargo Upgrades from 'Sell' to 'Buy' Amid Movie Magic Revival.

ENPH (-7%): Enphase Energy's Power Play Turns Sour - Citi Downgrade & Executive Exit Leave Stock Stumbling.

SNOW (+2%): Snowflake's Shares Soar as Rosenblatt Sees Cloud Computing Forecast Brighten.

STREET SCOOPS: The Buzz Around Town

Reuters: Federal Reserve Governor Michelle Bowman declared she's still on the lookout for inflation like a hawk on a mouse hunt, insisting it's not yet time to wield the rate-cutting scissors.

WSJ: U.S. employers pulled a rabbit out of the hat by adding a seasonally adjusted 303,000 jobs in March, leaving economists scratching their heads as they had only conjured up 200,000 in their predictions.

Axios: Meta is set to unveil its AI wizardry, slapping a "Made with AI" label on a wider array of content like a proud parent at a science fair, starting this May.

Axios: Elon Musk of Tesla fame swatted away rumors like flies at a picnic, vehemently denying Reuters' claim that Tesla is ditching its long-anticipated affordable electric car.

YF: Yellen and Biden are painting a picture of China poised to make waves in solar panels and EVs, reminiscent of Trump's forecasted auto Armageddon, signaling that the stage might be set for a showdown of epic proportions.

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