5 major events in today’s financial market: the global AI race heats up Saudi Arabia raises the price of crude oil Author Investing.com

Investing.com – Here are the top 5 things to know in the financial markets for Tuesday, February 7:

1. AI competitionheat up,Google, Baidu declare war

The AI ​​wars are heating up. Google parent Alphabet (NASDAQ: ) has announced that it will launch an AI tool called Bard in the coming weeks in response to a competitive threat from Microsoft’s ChatGPT.

Alphabet CEO Sundar Pichai said Bard is based on LamDA technology. A Google engineer claimed last year that LamDA is “alive.”

Meanwhile, Microsoft (NASDAQ: ) is holding an event tonight featuring Sam Altman, CEO of OpenAI, the development arm of ChatGPT.

In addition, Baidu (HK: ) Hong Kong stocks soared 13%. The company also announced that it will complete the internal testing of AI tools before March and open them to the public.

2.CVSnearbuyOak Street, deal size up to100One hundred million U.S. dollars

The U.S. stock market for mergers and acquisitions is beginning to revive after months of dormancy due to rising interest rates and tight credit financing for mergers and acquisitions.

CVS (NYSE: ) is reportedly buying Oak Street Health (NYSE: ) for $10.5 billion. CVS plans to expand its business in the primary care services market as its traditional retail business faces pressure from new rivals such as Amazon (NASDAQ: ).

The deal is CVS’s second mega-deal in the space in less than six months, following its $8 billion acquisition of Signify Health last September.

On Monday (6th), gold mining company Newmont Goldcorp (NYSE: ) announced a $17 billion acquisition of Australian rival Newcrest (ASX: ), which will be the largest merger and acquisition transaction so far this year.

3.U.S. stock futures were little changed

U.S. stock futures were mixed ahead of the open with slight volatility. Atlanta Fed President Raphael Bostic said on Monday that the Fed may still have to go further to tame it.

Before he made the above views, the US non-farm labor market report released on Friday (3rd) was stronger than expected, showing that the economy is still some distance away from recession.

Investing.com’s U.S. stock market shows that as of 21:03 Hong Kong time (08:03 U.S. Eastern Time), blue-chip stocks fell 42.6 points, or 0.13%, and rose 4.1 points, or about 0.10%, mainly technology stocks The index rose 44.8 points, or 0.36%.

4. DCGandWinklevossbrothers andother creditorsGenesisRecapitalization agreement reached

Barry Silbert and the Winklevoss brothers are reportedly close to an agreement over the bankruptcy of cryptocurrency lender Genesis. The Genesis bankruptcy cost the Winklevoss brothers $900 million for their Gemini project.

Under the deal announced Monday, Barry Silbert’s Digital Currencies Group (DCG) will exchange $1.1 billion in notes due 2032 for convertible preferred stock and will refinance Genesis’ $500 million loan due this year. .

Digital Currencies Group will inject its stake in Genesis Global Trading into a new holding company, bringing all Genesis entities under one roof in the event of a Chapter 11 restructuring.

In the deal, Gemini will also contribute up to $100 million, unlocking some of the funds Genesis owes to the Gemini Earn lending platform.

5.Oil prices rose more than1%，saudi arabiaRaise the price of crude oil

Crude oil prices rose after Saudi Arabia raised its official crude selling price for March, which some attributed to higher demand from China.

As of 21:03 Hong Kong time (08:03 am Eastern Time), Investing.com Commodity Markets showed: up 1.48% to $75.21/barrel; up 1.15% to $81.92/barrel.

However, exports of Azerbaijani crude oil resumed via the Turkish port of Ceyhan after a temporary interruption due to the earthquake.

In addition, investors will also need to pay attention to the data released by the American Petroleum Institute (API) later.

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Compiler: Liu Chuan