U.S. stocks plummeted Wednesday morning after bank concerns reached European markets, while investors are warning that the banking situation could worsen after the closures of Silicon Valley Bank and Signature Bank over the weekend.
OpenAI has released its advanced AI model GPT-4, which is multimodal, making it capable of both text and image generation, sparking competition between Microsoft and Google.
CNBC analyst Jim Cramer is once again being pilloried on social media after a clip resurfaced showing the “Mad Money” host recommending viewers buy shares of Silicon Valley Bank’s parent company, which owns the tech-driven commercial lender that swiftly collapsed on Friday.
New York-based Signature Bank, with $110.36 billion in assets, has become the third largest bank failure in US history, following the recent collapse of Silicon Valley Bank, but depositors of both banks will be made whole and no losses will be borne by the taxpayer.
HSBC has agreed to acquire the UK arm of Silicon Valley Bank for a nominal fee of £1, following the collapse of the bank due to its specialization in lending to technology companies.
Climate activists reacted with equal measures of anger and despair Sunday at the news oil giant Saudi Aramco achieved record profits totalling $161.1 billion last year.
Meta, Facebook’s parent company, is looking into a new social media platform that could potentially rival Twitter, as the company remains in turmoil under CEO Elon Musk’s leadership.
Home Depot co-founder Bernie Marcus discussed the devastating collapse of Silicon Valley Bank, urging Americans to "wake up" and understand that the U.S. economy is in "tough times."
