Tech Giants Agree to AI Safety 'Kill Switch'📱BE POWL 📈 JHX VFS📉

FlowBank's hand-curated fresh financial news [header_noDither] Tech Giants Commit to AI Safety Measures with Kill Switch Provision Major tech companies, including Microsoft, Amazon, and OpenAI, have pledged to implement voluntary AI safety commitments at the Seoul AI Safety Summit. This international agreement involves firms from multiple countries and includes measures like publishing safety frameworks and defining intolerable risks. A significant feature is the "kill switch" to halt AI development if risks cannot be mitigated. This pact builds on previous commitments and aims to enhance transparency and accountability in AI development ahead of the AI Action Summit in 2025. WHAT'S MOVING [Group 1742 (1)-May-22-2024-05-58-15-0653-AM] [Start Trading](113/cXx8Z04/VWw_881SF0ZHW1yVZxd1wXSQcW6fpr4J5fnjjZN861Kzv2-ZVTW6N1vHY6lZ3lvW7m3jgk3TlvD2W8MjjSQ7g5GcmW2Gdvvy6MhCSpW2m3-8j2vTg2rW3ljLvT3bdMx0W7tzXfV6TbxF7W4LdWVx8Lj1pBW3jr9x72yrTkcW79cZYJ39kbp3W8HWf583xK1DmV3QjMN6WW-PhW2HgCpV6kdHngN3bG0wKpKxcWW1hCMZr7Z8p-9VdfSxC8g2hzKW8fKpY02rfy58W28PHVs8ZGdFbW6S4mK_1MHYlkW6SGgvQ18lsG_W8wm9NH81SMg1W6sLj2138d-cXW9jPP0P7Nhqn6f3kvPJP04) [Group 1754 (1)-1] Macy's Macy’s topped earnings estimates for Q1, reporting 27 cents per share (vs. 15 cents expected) and $4.85 billion in revenue (vs. $4.86 billion expected), with a turnaround strategy that includes closing 150 stores and investing in better-performing locations. [Group 1753 (1)-1] Samsung Samsung Electronics appointed Young Hyun Jun as the new head of its semiconductor business to compete in the AI chip market, aiming to produce advanced memory chips and intensify competition with SK Hynix and Micron. [Group 3 (1)-2] Scale AI Scale AI raised $1 billion in a Series F funding round, doubling its valuation to $13.8 billion, with new investors including Amazon and Meta, and plans to expand its role in AI development and public sector projects. WHAT'S COMING UP? USD: Crude Oil Inventories: Exp. -2.400M v Prev. -2.508M USD: Existing Home Sales (Apr): Exp. 4.21M v Prev. 4.19M USD: FOMC Meeting Minutes IN OTHER NEWS Wall Street Tuesday, the S&P 500 and Nasdaq Composite set new record highs, with the S&P 500 up 0.25% and the Nasdaq gaining 0.22%. The Dow Jones Industrial Average also rose, adding 0.17%. [Group 1769] Europe European stocks are set for a lower open Wednesday amid ongoing inflation and interest rate concerns. The U.K.’s FTSE 100 is expected to drop by 0.51%, Germany’s DAX by 0.32%, France’s CAC by 0.40%, and Italy’s FTSE MIB by 0.40%. MARKET INSIGHTS Sell in May and Go Away? How Market Forces are Shaping the Rest of 2024 “Sell in May and go away” is an old Wall Street adage based on the assumption that historical market returns tend to cluster around a six-month window beginning in November and ending in April. [Read more](113/cXx8Z04/VWw_881SF0ZHW1yVZxd1wXSQcW6fpr4J5fnjjZN861KyW2-ZVTW5BW0B06lZ3pbW2PFZDM39lGckN1V2LJDh0bJhW2QnDn15Wgd_mW73FqmW6JK8k4W3B6WBY2rxCTBN6q1DQWF49k2W56r_JC2PFPtZW8ftpsF8G9tTNW3_J5MZ9dshzBW5nC6Vj538R66W7tmgDz740cT2W8VtFLM4RPG0cW1GYyX376wlYxW5tN22R455MxLN8tM-_6QZFsCW5rCPWj31jgPHW1D6qbj30TplMW7Tf_ll1f3jbGf2pdG-R04) Please note that due to market volatility, some of the prices may have already been reached and scenarios played out. The information above is not investment advice. 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