Monthly Archives: May 2024
OpenAI dissolves team focused on long-term AI risks, less than one year after announcing it
(CNBC) OpenAI has disbanded its team focused on the long-term risks of artificial intelligence just one year after the company announced the group. The news comes days after both team leaders, OpenAI co-founder Ilya Sutskever and Jan Leike, announced their departures from the Microsoft-backed startup. […]
AI infrastructure startup CoreWeave raises $7.5 billion in debt deal led by Blackstone
(CNBC) Fresh off a $1.1 billion equity funding round, artificial intelligence infrastructure startup CoreWeave has raised $7.5 billion in debt to more heavily invest in its cloud data centers. Blackstone’s funds led the lending round, with participation from Coatue, Carlyle, BlackRock, Magnetar and […]
Peconic extends winning run with 18% YTD gain
(Hedgeweek) Peconic Partners, the $1.8bn long-short hedge fund firm run by Bill Harnisch, has continued a four-year winning run so far in 2024, with the fund up 18% year-to-date, extending a run of outperformance that includes a 26% gain in […]
Dow futures are little changed after blue-chip average touches 40,000 for first time: Live updates
(CNBC) Futures tied to the Dow Jones Industrial Average traded near flat Friday, after the preceding session brought much fanfare, with the blue-chip average briefly touching the key 40,000 milestone for the first time. Futures connected to the 30-stock index dipped […]
Renaissance acquired GameStop and AMC shares ahead of meme stock rally
(Hedgeweek) Quant hedge fund Renaissance Technologies was positioned to benefit from the meme stock mania sweeping the US this week, having added a new long position in GameStop and significantly increased its position in AMC Entertainment during Q1, according to […]
CME to launch bitcoin trading for hedge funds and institutions
(Hedgeweek) The world’s largest futures exchange CME Group is aiming to capitalise on this year’s surge in money managers demand for cryptocurrency exposure with the launch of bitcoin spot trading on its platform, according to a report by the Financial […]
Reddit soars after announcing OpenAI deal that allows use of its data for training AI models
(CNBC) Reddit shares surged 11% in extended trading on Thursday after the social media company announced a partnership with OpenAI that will allow the ChatGPT maker to train its artificial intelligence models on Reddit content. As part of the deal, OpenAI will gain access to Reddit’s Data […]
HD launches crypto hedge fund for institutional investors
(Hedgeweek) Hyperion Decimus, a digital asset management firm and a sponsor of a multi-strategy crypto hedge fund, has launched the HD CoinDesk Acheilus Fund, a strategy that will invest in digital assets leveraging institutional grade fiduciary management. To read this […]
Meta slapped with child safety probe under sweeping EU tech law
(CNBC) Facebook parent company Meta on Thursday was hit with a major investigation from the European Union into alleged breaches of the bloc’s strict online content law over child safety risks. The European Commission, the EU’s executive body, said in a statement […]
Stock futures are little changed after S&P 500 closes above 5,300 for the first time: Live updates
(CNBC) Stock futures were near flat Wednesday evening after a lighter-than-expected inflation reading propelled the major averages to record highs. Futures tied to the Dow Jones Industrial Average added 32 points, or 0.08%. S&P 500 futures ticked higher by 0.06%, while Nasdaq 100 futures advanced 0.1%. […]
Berkshire Hathaway has bought 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion.
(CNBC) Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it’s insurer Chubb. His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. The property and casualty insurer became Berkshire’s […]
Bitcoin has it’s best day since March following cooler April inflation reading
(CNBC) Bitcoin jumped with stocks on Wednesday after the April consumer price index showed inflation eased from the previous month. The price of the cryptocurrency rose more than 7% to $66,124.59, according to Coin Metrics, and its best day since March 25. It […]