Tag: TECH08
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Nvidia announces technology to accelerate chip design at AI conference
March 21 (Reuters) – Nvidia Corp. (NVDA.O) Chief Executive Jensen Huang unveiled a new product on Tuesday to accelerate semiconductor design as it rolled out a range of new artificial intelligence technologies based on its chips and software. Huang made the remarks at GTC, the company’s annual conference for software developers. Analysts look forward to […]
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Cryptoverse: Bitcoin passes bank stress test
21 March (Reuters) – As the crisis haunts the traditional world of stocks and bonds, bitcoin suddenly looks like a safe haven. The notoriously volatile cryptocurrency seems positively healthy and savory, just as a banking collapse drives markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 […]
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Wall St Week Ahead: Declining Bond Yields Bolster Equities Allure Ahead of Fed Meeting
NEW YORK, March 17 (Reuters) – US equities have gained an unexpected ally in recent days: a historic fall in bond yields. U.S. Treasury yields fell sharply this week, with some maturities marking the biggest declines in decades, as investors bet the Federal Reserve is likely to curb its aggressive rate hike to prevent the […]
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China’s answer to ChatGPT? Baidu shares tumble as Ernie Bot disappoints
Ernie’s launch comes as Google, Microsoft step up AI game Baidu shares tumble as CEO gives short video presentations Analysts say scripted event, pre-recorded videos disappointed Ernie can do math, write poems, generate images and video BEIJING/HONG KONG, March 16 (Reuters) – China’s Baidu on Thursday unveiled its long-awaited AI-powered chatbot known as Ernie Bot, […]
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Meta to cut 10,000 jobs in second round of layoffs
March 14 (Reuters) – Facebook parent company Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs, the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares rose 6% on the news. The widely anticipated job cuts are part of […]
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HSBC bails out the British branch of stricken Silicon Valley Bank
US authorities support savers The UK deal puts an end to frenetic weekend talks UK Chancellor of the Exchequer: Deposits safe LONDON, March 13 (Reuters) – HSBC (HSBA.L) on Monday bought the UK branch of stricken Silicon Valley Bank for a token pound, bailing out a major lender to Britain’s technology start-ups and mitigating the […]
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India’s technology minister plans to meet with startups on the impact of the SVB
MUMBAI, March 12 (Reuters) – India’s technology minister said on Sunday he will meet with start-ups this week to assess the impact on them of the collapse of Silicon Valley Bank (SIVB.O) as concerns mount over the consequences for the Indian start-up sector. California banking regulators closed Silicon Valley Bank (SVB) on Friday after a […]
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US considering new fund to cover deposits as more banks fail, Bloomberg News says
March 11 (Reuters) – The US Federal Reserve and the Federal Deposit Insurance Corp are considering the creation of a fund that would allow regulators to cover more deposits at banks troubled by the collapse of Silicon Valley Bank, Bloomberg News reported on Saturday. Regulators discussed the new dedicated vehicle in talks with bank executives […]
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Circle secures market after stablecoin breaks USDC dollar peg
LONDON, March 11 (Reuters) – Stablecoin USD Coin (USDC) lost its dollar peg and fell to an all-time low on Saturday before recouping most of its losses after Circle, the company behind it, assured investors that despite exposure to the bankrupt Silicon Valley Bank. Circle said in a tweet Friday that it holds $3.3 billion […]
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SVB is the largest bank failure since the 2008 financial crisis
California regulator closes SVB, appoints FDIC as trustee SVB focused on lending to start-ups; branches open again on Monday FDIC to Sell Bank Assets; ‘chaos’ reported amid shooting Bank stocks fall in US, Europe, but well from lows Crisis exposes banks’ ‘vulnerabilities’ amid rising interest rates March 10 (Reuters) – Startup-focused lender SVB Financial Group […]