U.S. stocks rally, Dow Jones Index rises 1%
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As investors largely ignored concerns arising from bond yields reaching multi-decade highs, tech stocks led the rally, pushing the S&P 500 close to its historical high.
BUZZ - Australia's Stakk shares surge due to IBM software contract
On October 5th, Stakk (SKK.AX) shares rose as much as 26.1% to AUD 0.029, marking the largest intraday gain since September 29. The digital trust technology company announced that IBM will use its AI-driven document processing and verification software under a contract. The software will be deployed across Australia and New Zealand. The initial contract term is one year and will immediately generate revenue for the company. Including today's trading, the stock has declined 30.3% so far this year.
The Japanese Yen firms on a BoJ speech about AI and gives it all back
OpenAI reportedly in talks with UAE capital for $30 billions financing; multiple funds may form a consortium to invest up to $10 billions
According to sources familiar with the matter, OpenAI is in funding talks with several UAE investment funds, including Abu Dhabi’s MGX, in hopes that they will become key investors in a new funding round of at least $30 billions.
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