Leopold Aschenbrenner (L) and Bank of America CEO Brian Moynihan. Photo: Josh Edelson (L) | Oscar Molina (R) Bank of America CEO Brian Moynihan on Wednesday called the recent near-collapse of high-flying AI hedge fund Situational Awareness a warning shot for financial markets that are being fueled by elevated valuations and borrowed money. Situational Awareness,…
Nikolas Kokovlis | Nurphoto | Getty Images Visa on Monday said it is acquiring fraud detection startup BioCatch for $2.4 billion in cash, expanding the payment giant’s push into cybersecurity as banks confront a surge in artificial intelligence-powered scams and account takeovers. Under the deal, Visa will get BioCatch’s behavioral biometrics platform, which analyzes data…
Close-up of Databricks company logo on building facade, Rincon Hill, San Francisco, June 7, 2024. Smith Collection/ gado | Archive Photos | Getty Images Clear Street, the prime brokerage startup that recently shelved plans for its own IPO, is now aiming to give investors access to some of Silicon Valley’s hottest private companies before they…
Bond market investors may want to shift their focus toward the front of the yield curve, according to Allspring Global Investments’ Noah Wise. The bottom line: Focus exposure on short-term Treasurys over long duration. Wise, the firm’s head of global macro strategy and a senior portfolio manager, sees the strategy as part of a diversified…
Leopold Aschenbrenner Photo: Josh Edelson Two years ago, Leopold Aschenbrenner argued he was one of few people in the world who saw the future clearly. In a sprawling, 165-page essay that became required reading in Silicon Valley, the former OpenAI researcher positioned himself as a kind of prophet for the coming age of artificial super…
Jakub Porzycki | Nurphoto | Getty Images Coinbase shares dropped in extended trading on Thursday after the crypto platform posted a wider-than-expected loss for the second quarter, underscoring the continued troubles resulting from a deepening crypto winter despite its efforts to diversify revenue. Here’s how Coinbase performed in its quarter ended June 30, compared with what Wall…
DoubleLine Capital CEO Jeffrey Gundlach said the Treasury market is signaling that the Federal Reserve will need to do more than talk tough if policymakers are serious about reaching their 2% inflation target. “If you really want to get to 2%, I think you have to raise interest rates,” Gundlach said on CNBC’s “Closing Bell”…
President of Visa Inc. Ryan McInerney delivers a keynote address at the Transact 15 conference in San Francisco, California April 1, 2015. Noah Berger | Reuters Visa, which runs the world’s largest payments network, plans to cut about 7% of its workforce as CEO Ryan McInerney moves to streamline the company and invest more in…
Samuel Boivin | Nurphoto | Getty Images Three days after SpaceX’s blockbuster public debut, Rep. William Timmons bought as much as $100,000 of the rocket company’s stock. The South Carolina Republican chairs a House oversight panel on military and foreign affairs and sits on a financial services subcommittee covering artificial intelligence — two sectors central…
Federal Reserve Chairman Kevin Warsh concludes a news conference after a meeting of the Federal Open Market Committee, June 17, 2026. Tom Williams | CQ-Roll Call, Inc. | Getty Images The Federal Reserve is expected to hold interest rates unchanged at its upcoming July meeting — as higher energy prices and renewed tensions with Iran have complicated the picture for…
