Wall Street banks are ramping up spending on technology and hiring more people with tech skills. Bank of America’s chief tech officer says that the technological shift is happening too fast for current traders to adapt. Technology is moving front and center on Wall Street, and it has many people worried about their jobs. Wall Street is ramping up spending on technology and hiring more people with tech skills, especially in trading where profits…"A chilling sentence from Bank of America’s tech chief should have a big chunk of Wall Street worried (BAC)"
Count large fund managers among those unable to resist the allure of bitcoin‘s massive returns. Owning the scorching-hot cryptocurrency — which has surged more than 350% this year — is seen as the most crowded trade to a pool of 214 fund managers overseeing $ 629 billion, according to a survey conducted by Bank of America Merrill Lynch. To be specific, 26% of investors surveyed in September said they viewed being long bitcoin as the…"BANK OF AMERICA: Bitcoin is the ‘most crowded’ trade"
Nvidia and AMD are in a war. The two companies both produce graphics cards and compete over PC gamers, self-driving car manufacturers and data center managers to prove that their technology is superior. Nvidia tends to be ahead in many of those markets and has seen its stock rise more this year because of it. A new market is emerging though. The two graphics processing unit (GPU) companies are currently fighting over the cryptocurrency GPU market,…"A Wall Street bank is betting Nvidia will win the cryptocurrency battle (NVDA, AMD)"
NVIDIA stock is a darling among millennial investors, and bitcoin could be a reason why they are right to love the stock. NVIDIA makes graphics processing units, also known as GPUs or graphics cards, and it competes with companies like AMD. When the average consumer shops for a GPU, they are primarily looking at performance versus price, trying to find the best bang for their buck. That same measure doesn’t work as well when you scale that comparison…"A Wall Street bank used bitcoin to prove that NVIDIA is better than its competitors (NVDA)"