Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis.

Good afternoon. Today is Wednesday, October 9th, and I'm your host, Kim Khan. Our top story so far.

Invidious CEO Jensen Wong says that the future of AI will be services that can reason, but the cost of computing needs to come down before we get there.

In a podcast hosted by arm CEO Rennie Haas, Wong said next generation AI tools will be able

to answer questions by going through hundreds or thousands of steps and reflecting on their own

conclusions. This would enable the future software to reason, making it different from current

systems such as Open AI's chat gp gp gp t. Huang added that he uses ChatGPT every day.

He added that NVIDIA will set the stage for these advancements

by strengthening chip performance every year by two to three times,

consuming the same level of energy and at the same cost.

This would change how AI systems handle inference.

Inference is the process of an AI model being in action, wherein it produces predictions or conclusions.

Also in headlines, Hurricane Milton could be the most disastrous hurricane on record in terms of dollars.

FED watch advisors says Milton's impact will be severe and estimates are $100 to $175 billion of insured losses.

In 2005, Katrina incurred a loss of $65 billion or just over $100 billion in 2023.

Investors will be watching the Procure Disaster Recovery Strategy E.T.

Symbol F-I-X-T, which tracks a portfolio of companies engaged in recovery from natural disasters such

as hurricanes, wildfires, floods, and earthquakes. F I XT is made up of 44 stocks across

industrial, energy, energy materials consumer staples and

Infotech. Among active stocks today Taiwan Semi said revenue for September

surge 39.6% year over year amid growing demand for AI chips.

The chip manufacturer saw September quarter revenue of 759.69 billion new Taiwan

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