In particular, OpenAI's ChatGPT chatbot has taken the world by storm and impressed with its ability to answer questions in a factual, detailed manner and deliver responses in an impressive prose style. With OpenAI and Microsoft's revolutionary chatbot and other projects getting most of the positive press right now, the market may be underestimating Alphabet's (NASDAQ: GOOGL)(NASDAQ: GOOG) strengths and long-term opportunities in the AI industry. Notably, some analysts expect that ChatGPT could have a major negative impact on Alphabet's core businesses. Read More...
TheStreet.com
UBS to Buy Credit Suisse for $1 Billion (FT)
Credit Suisse, once a Swiss and European financial flagship, will be swallowed up by its rival and compatriot UBS for only one billion dollars, in a bid to restore confidence around the banking sector, reports the Financial Times. To restore calm as quickly as Credit Suisse recorded some 10 billion Swiss francs in outflows in one week, the Swiss authorities urged UBS to acquire Credit Suisse. According to the article, to expedite things and calm down the markets, the Swiss authorities plan to change the regulatory laws of the country requiring that a merger or acquisition be validated by the shareholders via a vote.
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