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Allbirds Stock Soars Nearly 600% As The Shoemaker Rebrands As An AI Company

(Yahoo! Finance) - Allbirds (BIRD) stock soared nearly 600% on Wednesday after the company announced it's switching from being a sustainable sneaker business to an artificial intelligence company.The stock jumped as high as $23 per share and ended the day at roughly $17, a far cry from its price of less than $3 just days ago. The company's market cap spiked to $159 million, compared to $21.7 million at Tuesday's close.

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Charles Schwab Accelerates AI Strategy

Charles Schwab’s latest quarterly update signals a decisive acceleration in its artificial intelligence strategy, with clear implications for RIAs and wealth advisory firms evaluating their own technology roadmaps.

Institutional Investors Look Beyond Returns When Evaluating Asset Managers

(Cerulli Associates) - As the marketplace becomes more crowded, securing a spot in an institutional investor’s portfolio has become more challenging for asset managers.

Fed's Moran Acknowledges Inflation Has Proven More Persistent Than Previously Anticipated

Federal Reserve Governor Stephen Miran signaled a modest but notable shift in his policy stance, acknowledging a more hawkish outlook as inflation dynamics have proven more persistent than previously anticipated.