The primary reason for the rise in AI's popularity is the commercial release of a tool called ChatGPT, which was developed by a company called OpenAI. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) invested material time and capital in its own machine learning and AI capabilities. Furthermore, investors have been told about an internal AI product called Bard for quite some time. Read More...
Vanguard bought large banks’ bonds on the cheap during March turmoil
Vanguard, the world’s second-largest asset manager, increased exposure to large bank’s bonds during the banking rout in March, taking advantage of cheap valuations, according to a report seen by Reuters. The collapse of two U.S. regional banks last month triggered wild price fluctuations across fixed income markets, with worries over the banking sector weighing broadly on corporate bond prices. “The banking troubles offered a brief window to add large banks at compelling valuations,” said the report, written by Sara Devereux, global head of fixed income group, and her team.