finance

AI Financial Advisers Target Young People Living Paycheck to Paycheck
13 Jan

AI Financial Advisers Target Young People Living Paycheck to Paycheck

stp2y0 CommentsGenAI, ,
Leaders at artificial intelligence companies often ask users (and investors) to imagine a not-so-distant future where AI coaches, trained on personal data and past interactions, help users achieve their wildest dreams. Want to be more active? Here’s a workout designed by AI. Want to monitor your long-term well-being? Try this AI health app. Want to fix your money woes? There’s a personal finance chatbot for that. Multiple, actually.My goal is to be debt-free by the end of 2025, and as a reporter who often tests new software, I was curious about trying some of the AI financial advisers that have…
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Nvidia Says Its Blackwell Chip Is Fine, Nothing to See Here
21 Nov

Nvidia Says Its Blackwell Chip Is Fine, Nothing to See Here

stp2y0 CommentsAI, , , ,
A large portion of Nvidia’s growth this quarter was driven by data center revenue, totaling $30.8 billion for the quarter, which was up 112 percent from last year. The company’s gross profit margin was 74.5 percent, essentially flat from a year ago. But analysts expect that Nvidia’s margins could shrink as the company shifts to producing more Blackwell chips, which cost more to make than their less advanced predecessors.Nvidia’s earnings reports are seen as an important bellwether for the AI industry as a whole. The chip architect’s advanced GPUs, which power complex neural network processing, are what made the current…
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Tesla says it will ‘begin launching’ new and more affordable EVs next year
24 Oct

Tesla says it will ‘begin launching’ new and more affordable EVs next year

stp2y0 CommentsNews, , , , , , , , , ,
One of Tesla’s biggest downsides has always been the upfront cost of its electric vehicles versus gas models. The cheapest car it currently sells is $42,490 before subsidies, and the average starting price of its 2024 models is just over $63,000.Tesla wrote in its that it’s making “preparations” to offer new vehicles with “more affordable models.” The EV maker’s cost of goods sold per vehicle also came down to “its lowest level ever” at $35,1000.“Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025,” the report reads. “These vehicles…
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Data breach of Fidelity leaks 77,000 customers’ personal data
12 Oct

Data breach of Fidelity leaks 77,000 customers’ personal data

stp2y0 CommentsNews, , , , , , , , , , ,
Another breach of a huge financial institution has leaked the personal information of thousands of customers to the public. reported that an unidentified hacker obtained 77,009 customers’ personal data from the asset management firm Fidelity Investments. posted yesterday revealed that the unidentified third party obtained the information in mid-August using two phony customer accounts. It’s not yet known how these accounts were used to access customer data. Fidelity said in a letter to its customers that it discovered the breach on August 19. The letter also said that the unidentified party did not access customers’ Fidelity accounts but after Fidelity…
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Fintech: Introduction
12 Oct

Fintech: Introduction

stp2y0 CommentsNews, , , , , , , , ,
Welcome to the Future of Fintech Series, where we go on a journey through one of the most transformative sectors of our time—financial technology (Fintech). This series aims to explain the complexities of Fintech, offering clear, accessible insights into how technology is reshaping the financial landscape.This series will provide you with the knowledge to navigate and succeed in the world of Fintech (isa). By following this series, you'll not only learn the "what" and "how" of Fintech but also gain the foresight needed to anticipate the "next big thing" in finance. Let's explore the future of fintech together! Who’s Behind…
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FTX Customers Will Get Back Billions After Judge OKs Bankruptcy Plan
07 Oct

FTX Customers Will Get Back Billions After Judge OKs Bankruptcy Plan

stp2y0 CommentsRAG models, , , , , ,
A US judge has cleared the way for billions of dollars to be refunded to former customers of bankrupt crypto exchange FTX.At a court hearing in Wilmington, Delaware, on Monday, judge John Dorsey gave final approval to FTX’s reorganization plan, the terms of which had previously been put to creditors and voted through by a landslide.“I think this is a model case for how to deal with a very complex Chapter 11 proceeding,” said Dorsey. “I applaud everyone involved in the negotiation process.”FTX filed for bankruptcy in November 2022 after running out of funds to process customer withdrawals. Billions of…
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OpenAI reportedly plans to increase ChatGPT’s price to $44 within five years
27 Sep

OpenAI reportedly plans to increase ChatGPT’s price to $44 within five years

stp2y0 CommentsNews, , , , , , , , ,
OpenAI is reportedly telling investors that it plans on charging $22 a month to use ChatGPT by the end of the year. The company also plans to aggressively increase the monthly price over the next five years up to $44.The documents obtained by shows that OpenAI took in $300 million in revenue this August, and expects to make $3.7 billion in sales by the end of the year. Various expenses such as salaries, rent and operational costs will cause the company to lose $5 billion this year.OpenAI is reportedly circulating the documents the NYT reported on as part of a…
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Visa slapped with a DOJ antitrust lawsuit
25 Sep

Visa slapped with a DOJ antitrust lawsuit

stp2y0 CommentsNews, , , , , , , , , , , , , ,
The Department of Justice (DOJ) filed an antitrust lawsuit against Visa. The lawsuit alleges that the financial firm holds a monopoly over debit network markets allowing it to charge banks and markets with exorbitant fees that get passed onto consumers and keep rival companies like PayPal and Square from competing on their level. first reported on Monday that the DOJ planned to file an antitrust suit against Visa following a multiyear investigation into Visa’s business practices starting in 2020. Visa attempted to acquire with a $5.3 billion bid but the DOJ filed a lawsuit blocking the deal claiming the acquisition would…
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The Trumps Have Gone Full Crypto With World Liberty Financial
17 Sep

The Trumps Have Gone Full Crypto With World Liberty Financial

stp2y0 CommentsRAG models, , ,
As it turned out, Trump was readily convinced: Despite having previously dismissed bitcoin as a “scam,” Trump has recently taken to pitching himself as the crypto president. In July, speaking to thousands of bitcoiners at a conference in Nashville, Tennessee, Trump promised to turn the US into the “crypto capital of the planet” and establish a national “bitcoin stockpile” if reelected. In a post on X after the speech, Tyler Winklevoss celebrated the former president having been “orange-pilled”—crypto lingo meaning “indoctrinated.”Initially, when Eric and Donald Jr. first began to hint at the World Liberty Financial project, there was speculation they…
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People Are Setting Themselves on Fire and Getting Punched in the Face to Pump Their Crypto Coins
12 Sep

People Are Setting Themselves on Fire and Getting Punched in the Face to Pump Their Crypto Coins

stp2y0 CommentsRAG models, ,
The vast majority of these coins never get off the ground. Others attract early attention, then tank after the creator sells off their holdings without warning. A minority of the coins hold value over a longer period.Meme coins serve no strict purpose other than to act as a vehicle for financial speculation. Fluctuations in their price are therefore a reflection almost entirely of the attention they attract—a collective belief, on whatever grounds, that the price will either rise or fall.The forces behind the meme coin boom are similar to those that propelled the meme-stock craze of 2021, says Albert Choi,…
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