Wall Street Update
From Samsung’s new high-bandwidth memory chip and Aston Martin’s delayed electric car debut, to Google correcting its Gemini AI tool, here’s a look at recent business happenings from across the world.
Google’s top executive has blasted the contentious replies of Gemini AI, calling the tool’s output utterly “unacceptable”. Automaker confronts speed-bumps as Chrysler recalls more than 330,000 cars and Aston Martin realizes nobody wants to purchase its next EV model. All this and more on the February 29 edition of World Street.
Google AI Bug
Google is working to fix its Gemini AI tool, which has been criticized for generating biased and unacceptable text and image responses. The company halted its use of the tool last week due to inaccuracies in historical depictions.
Aston Martin green step
Aston Martin is delaying the launch of its first electric car due to a lack of consumer demand. The company now plans to launch its battery electric vehicle (BEV) in 2026, a year later than planned, as investment in capacity and technology has outpaced EV demand.
Samsung chip step
Samsung Electronics has developed a high-bandwidth memory chip with the highest capacity in the industry, claiming it increases performance and capacity by over 50%.
Jeep based Chrysler recall
Chrysler is recalling over 3,30,000 Jeep Grand Cherokees due to a stressing wheel issue, potentially causing drivers to lose control of their cards and potentially causing the wheel to fall off, leading to accidents.
Bitcion rocket to 60k
Bitcoin surged past $60,000 to $64,000 in trade on February 28, reaching a 20 percent increase over the past five sessions. The rally is attributed to increased money flow after the US SEC allowed Bitcoin ETF trading in January 2024. The cryptocurrency is now approaching earlier lifetime highs.
Job Cuts
Sony Interactive Entertainment has announced the layoff of approximately 900 employees in its PlayStation subsidiary, accounting for 8% of its global staff. The decision was made after careful consideration and leadership discussions, as it was deemed necessary for the company’s growth and development, according to President and CEO Jim Ryan.
Boeing gets warning
Boeing has been given 90 days by the US FAA to address its quality-control issues and meet safety standards while developing new planes, requiring substantial improvements.
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Wall Street Update