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OpenAI, Amazon sign $38B deal for AI systems

SEATTLE — OpenAI and Amazon have signed a $38 billion deal that enables the ChatGPT maker to run its artificial intelligence systems on Amazon’s data centers in the U.S. OpenAI will be able to power its AI tools using “hundreds of thousands” of Nvidia’s specialized AI chips through Amazon Web Services as part of the deal announced Monday. Amazon shares increased 4% after the announcement. The agreement comes less than a week after OpenAI altered its partnership with its longtime backer Microsoft, which until early this year was the startup’s exclusive cloud computing ...

Kimberly-Clark buying Tylenol maker

Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer health goods company. Shareholders of Kimberly-Clark will own about 54% of the combined company. Kenvue shareholders will own about 46% in what is one of the largest corporate takeovers this year. The deal must still be approved by the shareholders of both companies. The combined company will have a huge stable of household brands under one roof, putting Kenvue’s Listerine mouthwash and Band-Aid side-by-side with Kimberly-Clark’s Cottonelle toilet paper, ...

Penny saved, penny earned: Businesses run out of coin as Mint stops production

NEW YORK — The United States is running out of pennies. President Donald Trump’s decision to stop producing the penny earlier this year is starting to have real implications for the nation’s commerce. Merchants in multiple regions of the country have run out of pennies and are unable to ...

Relying on AI at work has limits

NEW YORK — Judges around the world are dealing with a growing problem: legal briefs that were generated with the help of artificial intelligence and submitted with errors such as citations to cases that don’t exist, according to attorneys and court documents. The trend serves as a cautionary tale for people who are learning to use AI tools at work. Many employers want to hire workers who can use the technology to help with tasks such as conducting research and drafting reports. As teachers, accountants and marketing professionals begin engaging with AI chatbots and assistants to ...

What a Reserve rate cut means for your finances

NEW YORK — The Federal Reserve cut its benchmark interest rate by a quarter point Wednesday for the second time since September. Before that, it had gone nine months without a cut. The federal funds rate is the rate at which banks borrow and lend to one another. While the rates consumers pay to borrow money aren’t directly linked to this rate, shifts affect what you pay for credit cards, auto loans, mortgages, and other financial products. “While the full economic impact of such a move will unfold over time, early indicators suggest that even modest rate cuts can have ...

Amazon carries Wall Street to another winning week

NEW YORK — Amazon led the U.S. stock market on Friday to the finish of another winning week and month. The S&P 500 rose 0.3% and pulled closer to its all-time high set on Tuesday. It closed out a third straight winning week and a sixth straight winning month, its longest monthly winning streak since 2021. The Dow Jones Industrial Average added 40 points, or 0.1%, and the Nasdaq composite gained 0.6%. Amazon led the way and jumped 9.6%. The retail giant was by far the strongest force lifting the market after reporting profit for the latest quarter that blew past analysts’ ...