Latest Stock Market News today: Fitch Ratings, US downgrade, Nvidia stock, Bud Light backlash, Target Pride Merchandising, debt ceiling talks | May 25, 2023
TikTok testing AI chatbot called ‘Tako’, research firm says
Social media platform TikTok is testing an artificial intelligence (AI) chatbot that can converse with users about short videos and help them discover content, an app intelligence firm said.
Israeli-based Watchful Technologies said it has found the AI chatbot dubbed “Tako” on some versions of the TikTok app on Apple Inc mobile devices.
Screenshots and video Watchful shared with Reuters showed the chatbot featuring prominently on the app’s interface as a ghost-shaped icon, which users can tap while watching videos to have text-based conversations and get help finding content.
“In select markets, we’re testing new ways to power search and discovery on TikTok, and we look forward to learning from our community as we continue to create a safe place that entertains, inspires creativity, and drives culture,” the spokesperson said.
Nvidia shares surge
Nvidia stock saw a gain of over 20% putting its annual run to well over 100% after quarterly earnings highlighted its lead in the race to dominate AI.
The stock is heading for a record close.
Target under fire
Target shares continued their slide Thursday as the retailer roils from the controversy surrounding the Pride merchandising campaign which has erased billions in market value this week alone.
Dish Network surges after report says it plans to sell wireless plans via Amazon
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DISH | $6.23 | -0.37 | -5.61 |
| AMZN | $116.75 | 1.76 | 1.53 |
Dish Network Corp surged over 15% premarket on Thursday after a report said the company was in talks to sell its wireless plans through Amazon.com Inc.
Details of the new phone plans sold through Amazon’s U.S. website could be announced as soon as June, the Wall Street Journal reported, citing people familiar with the matter.
OpenAI’s Sam Altman raises $115 million for Worldcoin crypto project
OpenAI Chief Executive Sam Altman has raised $115 million in a Series C funding round led by Blockchain Capital for a cryptocurrency project he co-founded.
The project, Worldcoin, aims to distribute a crypto token to people “just for being a unique individual”. The project uses a device to scan irises to confirm their identity, after which they are given the tokens for free.
Worldcoin has faced criticism for perceived privacy risks. In response to Altman’s tweet introducing the project in 2021, former U.S. intelligence contractor Edward Snowden tweeted, “Don’t catalogue eyeballs”.
The token will not be available to people in the United States and some other countries, according to Worldcoin’s website.
BioNTech is proceeding with COVID-shot in line with WHO guidance
| Symbol | Price | Change | %Change |
|---|---|---|---|
| BNTX | $111.09 | -5.21 | -4.48 |
| PFE | $38.63 | -1.01 | -2.55 |
| MRNA | $131.59 | -6.16 | -4.47 |
| NVAX | $7.29 | -0.70 | -8.76 |
Germany’s BioNTech said it was on track to introduce a COVID-19 shot by the early fall in the northern hemisphere that is adapted to currently dominant virus variants in line with recommendations by the World Health Organization.
BioNTech was targeting regulatory approval by the end of the summer to allow for a seasonal vaccination campaign to start in early autumn, CEO and co-founder Ugur Sahin told shareholders at the biotech firm’s annual general meeting on Thursday.
BioNTech/PFizer’s new formulation would aim to produce antibody responses to the XBB.1.5 or XBB.1.16 variants, as preferred by the WHO, Sahin said, adding that the partners would introduce a ready-to-use single dose, a change from the multi-dose vials that were standard during the pandemic.
Moderna and Novavax have also been working on versions of their respective vaccines targeting XBB.1.5 and other currently circulating strains.
Fitch considers downgrade of USA
Fitch Ratings services said it is mulling a downgrade of the U.S.’s AAA credit rating, a move that could send shock waves through the financial markets as the debt ceiling deadline looms.
