Technology

Authored by Andrei Akulov via The Strategic Culture Foundation,

Content originally published at iBankCoin.com

Shares of AMD ($AMD) spiked over 6 percent in after hours trade following a CNBC report that carmaker Tesla has teamed up with the chip maker develop a custom A.I. processor for self-driving technology.

The carmaker has received the first batch of samples from the chipmaker, a source told CNBC.

One week ago we said that Category 1 storm clouds are gathering over what has traditionally been one of the most lucrative, and perhaps only profitable, sectors to come out of Silicon Valley in decades: online advertising. We directed readers' attention to the recent Global Retailing Conference organized by Goldman Sachs, in which Restoration Hardware's delightfully colorful CEO, Gary Friedman, divulged the following striking anecdote about the company's online marketing strategy, and the state of online ad spending in general. What Friedman revealed - in brief - was the following:

After an exuberant overnight session - ignoring the slump in USDJPY and bond yields - the US cash session open appears to have triggered a wave of selling (especially in tech stocks)...

Nasdaq is getting whacked at the open...

Bank stocks are bid once again - back to pre-FOMC Minutes levels - as Tech rolls over...

The S&P is back to unchanged...

As VIX spikes back above 10...

And as a reminder, yesterday's open was the opposite - a panic-bid...

Following July's collapse in housing data (from permits to sales), August data for Housing Starts were supposed to bounce back but didn't (falling 0.8% MoM vs +1.7% exp) and Permits were expected to fall 0.8% but spiked 5.7% MoM (thanks to a big jump in multi-family units).

So it appears last month's ugly Housing Starts data was revised sharply higher on the back of a jump in multi-family units...

And Multi-family Permits jumped notably...