Monthly Archives: May 2024
Walmart to reportedly lay off hundreds of corporate staff and relocate others
(CNBC) Walmart is cutting hundreds of corporate jobs and asking most remote workers to move to offices, the Wall Street Journal reported on Monday, citing people familiar with the matter. Meanwhile, workers at the U.S. retail giant’s smaller offices in Dallas, […]
OpenAI launches new AI model and desktop version of ChatGPT
(CNBC) OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the company’s latest effort to expand use of its popular chatbot. The update brings GPT-4 to everyone, including OpenAI’s free users, technology chief […]
AI boom to keep supply of high-end memory chips tight this year, analysts warn
(CNBC) High-performance memory chips are likely to remain in tight supply this year, as explosive AI demand drives a shortage for these chips, according to analysts. SK Hynix and Micron – two of the world’s largest memory chip suppliers – are out […]
Hedge funds cut bullish oil bets to lowest level in almost two months
(CNBC) With easing tensions in the Middle East and a clouded fundamental outlook weighing on oil prices, hedge funds slashed their bullish bets on benchmark Brent crude last week to the lowest level seen in eight weeks, according to a […]
Stock futures are little changed after Dow’s best week of the year, investors look toward inflation data: Live updates
(CNBC) Stock futures were little changed on Sunday, with Wall Street looking toward fresh inflation data this week. Futures tied to the S&P 500 fell 0.1%, while Nasdaq 100 futures hovered near the flatline. Dow Jones Industrial Average futures slipped 37 points, or 0.09%.The 30-stock Dow […]
SoftBank’s Arm to reportedly launch AI chips by 2025 to capture explosive demand
(CNBC) SoftBank Group subsidiary Arm is planning to launch artificial intelligence chips by next year, according to a Nikkei Asia report, as the battle for AI chip dominance intensifies. The U.K.-based chip designer, in which SoftBank has a 90% stake, will set up an AI […]
Jim Simons, billionaire quantitative investing pioneer who generated eye-popping returns, dies at 86
(CNBC) Jim Simons, a mathematician who founded the most successful quantitative hedge fund of all time, passed away on Friday in New York City. Pioneering mathematical models and algorithms to make investment decisions, Simons left behind a track record at Renaissance Technologies that […]
Bed Bath & Beyond launches $300m Hudson Bay lawsuit
(Hedgeweek) Bankrupt retailer Bed Bath & Beyond is suing Hudson Bay Capital Management – the hedge fund at the centre of a filed last-ditch rescue plan for the business – for more than $300m in lost trading profits as it […]
Pfizer and AstraZeneca announce new investments of nearly $1 billion in France
(CNBC) Leading healthcare companies Pfizer and AstraZeneca announced on Sunday new investments in France worth a total of nearly $1 billion, ahead of the start of this year’s annual ‘Choose France’ business summit. Pfizer said it would invest 500 million euros ($538.5 million) in […]
Sam Altman’s nuclear energy company Oklo plunges 54% in NYSE debut
(CNBC) Sam Altman is now chairman of a public company. But it’s not OpenAI. On Friday, advanced nuclear fission company Oklo started trading on the New York Stock Exchange. The company, which has yet to generate any revenue, went public through a […]
Stock futures are little changed after Dow notches seven-day win streak: Live updates
(CNBC) U.S. stock futures were little changed on Thursday night after the Dow Jones Industrial Average posted its longest win streak going back to December. Futures linked to the 30-stock Dow rose by 49 points, or 0.1%. S&P 500 futures climbed 0.09%, while Nasdaq 100 […]
Bridgewater boss says firm has been ‘rewired’
(Hedgeweek) Bridgewater Associates, the world’s largest hedge fund firm, has had to be “rewired” as part of a push to improve investment performance, according to a report by the Financial Times quoting new Chief Executive Officer Nir Bar Dea. To […]