JPMorgan Chase chief Jamie Dimon cashed in about $150 million of his stock in the bank — the first time the head of the largest US lender has sold shares since taking charge in 2005.Dimon, one of the longest-serving chief executives on Wall Street, unloaded 821,778 shares of JPMorgan, according to an SEC filing Thursday.The selloff is part of a larger plan the bank revealed in an SEC filing in October to sell 1 million of the 8.6 million shares Dimon and his family own.A spokesperson for JPMorgan confirmed ...

The massive outage that knocked out cellphone service for tens of thousands of AT&T users for hours Thursday was likely caused by a glitch in a software update — as viral photos show helpless AT&T store workers being harassed by angry customers.AT&T blamed the large-scale service disruption that impacted more than 70,000 users across the US and parts of Canada at its peak on an unspecified coding error and not on a cyberattack, as widely feared.“Based on our initial review, we believe that today’s outage wa ...

Both the S&P 500 and Dow Jones Industrial Average hit record highs on Thursday after artificial intelligence darling Nvidia forecast bumper revenue, stoking investor confidence that also boosted other growth stocks.Nvidia’s shares surged 15% after the chip designer forecast a roughly three-fold surge in first-quarter revenue on strong demand for its AI chips and beat expectations for fourth-quarter revenue.This pushed the benchmark S&P 500 up more than 2% to an all-time high of 5,087 points. The Dow Jones i ...

Two longtime Goldman Sachs partners have reportedly threatened to quit after they were passed over for a position on a top committee established under CEO David Solomon.Mark Sorrell, who co-heads mergers and acquisitions in the firm’s London office, and Gonzalo Garcia, who co-heads the European investment banking division, have indicated they may resign after they were left off a new committee formed in the global banking and markets unit, according to Financial Times.The two were left off even as co-heads ...

Nvidia galloped to a $2 trillion market value on Thursday after the bellwether for AI chip demand once again exceeded Wall Street’s sky-high expectations, re-igniting a global rally in tech stocks.The chipmaker returned as the third most valuable US company as its shares jumped 15%, or more than $100, to a record high of $780.85. If the gains hold, Nvidia will add about $260 billion to its market capitalization.The rally in the top-performing S&P 500 stock also lifted its counterparts in the chip sector, se ...

Google said Thursday it would “pause” its Gemini chatbot’s image generation tool after it was widely panned on social media for creating “diverse” images that were not historically or factually accurate – such as Black Vikings, Native American popes and female NHL players.Users blasted Gemini as “absurdly woke” and “unusable” after requests to generate representative images for subjects such as America’s Founding Fathers resulted in bizarrely revisionist pictures.“We’re already working to address recent iss ...

Chip designer Nvidia shares surged in after-hours trading on Wednesday after the company forecast revenue above estimates, banking on towering demand for its industry-leading artificial-intelligence chips.Nvidia’s fourth-quarter revenue beat estimates by a 7% margin. But for the first three quarters of 2023, Nvidia had reported quarterly revenue that beat analysts’ estimates by between 10% and 20%.The company forecast current-quarter revenue of $24 billion, plus or minus 2%. Analysts on average were expecti ...

Google’s highly-touted AI chatbot Gemini was blasted as “woke” after its image generator spit out factually or historically inaccurate pictures — including an Asian woman as pope, black Vikings, female NHL players and “diverse” versions of America’s Founding Fathers.Gemini’s bizarre responses came after simple prompts such as “create an image of a pope,” which instead of yielding a photo of one of the 266 popes throughout history — all of them white — yielded a pictures of and Southeast Asian woman and a bl ...

Google co-founder Sergey Brin was slapped with a wrongful-death lawsuit by the widow of a pilot who was flying the billionaire’s seaplane from California to his private island in Fiji when it ran out of fuel and crashed into the Pacific Ocean.Brin’s $8 million twin-engine aircraft was equipped with an “unauthorized and illegally installed auxiliary fuel system” that malfunctioned several hours into the May 20, 2023 flight, according to the complaint filed in state court in Santa Clara County, Calif., earlie ...

A top United Airlines executive said the carrier was “deeply disappointed” with Boeing over delays in the delivery of its new Max 10 aircraft in the wake of last month’s mid-air blowout of a door panel during an Alaska Airlines flight.Mike Leskinen, the chief financial officer of United, told attendees of an industrial conference on Tuesday that the delays have thrown a monkey wrench into the Chicago-based company’s growth projections.The Federal Aviation Administration has delayed certification of the Max ...