Tag: Bank of America

In this article, Josh Lipsky, Senior Director of the Atlantic Council’s GeoEconomics Center, talks about the potential debt default and its potential effects on US economy i.e. recession, higher unemployment and fewer government benefits. Also, Bank of America analysts shed light on potential liquidity drain due to Treasury Department’s issuance and how smaller firms may benefit in the housing market.

Nvidia is a leader in the AI technology market and its founder Jensen Huang is a Taiwanese-American entrepreneur with a net worth of over $14 billion. The COVID-19 pandemic has accelerated the demand for Nvidia's technology, leading to a surge in profits and stock prices. Analysts predict more growth for the chip-maker in the AI sector, fueled by increased investments from companies looking to take advantage of this technology gold rush.

JPMorgan kicked off the AI-progress in banks by filing for a ChatGPT trademark, as reported by CNBC. This tool utilizes AI to provide customers with investment advice and with other AI-driven initiatives, JPMorgan is on track for their $1 billion goal. However, despite the competition between tech giants, the bank still restricts 3rd-party software. ChatGPT is revolutionizing banking and will play a major part in the future.

Investing in AI technology is mounting, with reports from Bank of America showing a potential 'baby bubble' in the making reminiscent of dot-com era in the late 90s. Bill Ackman's big bet with Alphabet and OpenAI's Chatbot have grabbed the public's attention. With an increase in US bond yields and doubling of share prices in companies such as Nvidia and Met Platforms, the Federal Reserve could burst this bubble. Be aware of the risk of a repeat of the 2000 dot.com burst.

A large number of tech companies have raised red flags concerning Artificial Intelligence (AI) and privacy. Apple has restricted OpenAI's ChatGPT and Microsoft's Copilot, reports The Wall Street Journal, and Bloomberg's Mark Gurman disclosed that ChatGPT has been under a ban for months. Companies such as Samsung, Verizon, and many banks are taking such precautionary measures to protect confidential data from potential leakage through ChatGPT. Apple, with its secure and private hardware and software, is an example of why such precautions should be taken.