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In to tech news briefing, it's Wednesday, August 23rd. I'm Zoe Thomas for the Wall Street Journal.

Microsoft says, if you let us by Activision Blizzard, we will forfeit our cloud streaming

rights for games in much of the world. But will that be enough for British regulators

who have so far rejected the tech giants $75 billion acquisition? Our herd on the street

column is Dan Gallagher joins us later in the show to discuss that and why Microsoft

is making such a big offer.

First though, of all the jobs that artificial intelligence appears fit to handle, portfolio

manager doesn't seem to be one of them. At least 13 exchange traded funds have put

AI applications in charge of managing their portfolios. Almost all have missed out on

this year's tech led market rally. One major irony of this is that AI enthusiasm has

been what's driving many tech stocks up. I asked our market's reporter Bob Henderson

why AI seems to be such a bad trader. See, it's trained on past data. And so several

of these ETFs have worked well for a while after they were trained, but then encountered

some new paradigm shifting event like the regional banking crisis is a good example earlier

this year or the fed raising rates really fast last year. These are things that hadn't

happened forever or for a long time, or their particulars were so different that the

AI seems to not recognize what to do in those situations.

What does this mean for how AI might be used in the future when it comes to trading?

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