🪨+25% Global Lithium Production. US University Costs Decline. Banking Led AI Spending.

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Protests in Serbia against Rio Tinto's lithium mining project have erupted, demanding a law to block exploitation and a potential blockade. Chip stocks rebounded as investors grew more confident in big companies' continued investment in AI technical infrastructure despite concerns about the sustainability of the AI rally.

Today's Topics

🎓 University Costs. US university costs fell by over $1,000 from 2017 to 2021
🪨 Lithium Production. Global lithium production increased by over 25% in 2023
💻 AI Spending. The banking sector led AI spending globally in 2023 

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🎓 US University Costs Fell by Over $1,000 From 2017 to 2021

After a steep rise from 1990 to 2017, the average annual cost of attending a 4-year university in the US declined by over $1,000 between 2017 and 2021. This decline reflects increased state funding, efforts to control tuition hikes, and a shift towards more affordable online education options, particularly in response to growing concerns about student debt.

🪨 Global Lithium Production Increased by Over 25% in 2023

Global lithium production increased by over 25% in 2023, driven by Australia, Chile, and China scaling up operations. Australia's expansion was fueled by its abundant resources and demand from battery manufacturers. Chile, holding vast lithium reserves, boosted output to maintain its market position. China rapidly increased production to support its booming electric vehicle and renewable energy sectors.

💻 The Banking Sector Led AI Spending Globally in 2023

The banking industry led AI spending in 2023, contributing $21B out of the $154B spent globally. This significant investment underscores the sector's focus on advanced analytics, fraud detection, and customer personalization. Coming in close behind, the retail sector spent $19.7B, reflecting its drive to enhance customer experiences through AI, making these two sectors the top contributors to AI spending.

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