Geopolitical tension clashed with uplifting jobs data, making for an interesting week on Wall Street.
Meanwhile, the crypto market went on a wild ride along with the greater stock market, and the US Securities and Exchange Commission (SEC) revived a nearly four-year-old case against Ripple Labs.
At OpenAI, a previously announced funding round wrapped up, bringing the company’s valuation above estimated projections.
Stay informed on the latest developments in the tech world with the Investing News Network’s round-up.
Its share price is down over 2 percent for the week.
However, SB 1047’s focus on large, expensive AI models could mislead the public about the level of control over this rapidly evolving technology. It’s possible that smaller, specialized models, not covered by the bill, could pose equal or greater risks, potentially stifling innovation that benefits the public.
The company will list its Class A common stock on the Nasdaq under the symbol CBRS. The number of shares and the price range were not determined at press time.
Following the report’s release right after Tuesday’s closing bell, Tesla stock fell by over 4 percent in after-hours trading. Its share price slid a further 2 percent after the market’s opened on Wednesday before recovering to around US$250, roughly three percent lower than Monday’s opening price. Tesla closed the week at US$250.08.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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