Daily Brief - 9 Jan 2024

Nvidia unveils game-changing AI chips for PCs

Nvidia has just introduced three new desktop graphics chips at the CES trade show. These chips, including the GeForce RTX 4080 SUPER, are designed to enhance personal computer performance, particularly for gaming, design, and AI applications. Unlike previous versions, these chips allow users to run AI software directly on their PCs without needing the internet. The RTX 4080 SUPER, available from January 31 for $999, boasts faster processing and memory, significantly improving image generation and gaming experiences. Nvidia's move marks a significant shift in the PC industry, aiming to encourage people to upgrade their computers for better AI capabilities. Despite a decline in PC sales, Nvidia's focus on AI technology has greatly increased its market value, making it a standout in the semiconductor industry.

United Airlines found loose bolts in some of their 737 Max jets

Boeing is working to get its 737 Max 9 jets back in the air after a recent incident involving Alaska Airlines. The company has issued guidelines for airlines to inspect these planes to avoid similar problems. United Airlines has found loose bolts in some of their 737 Max jets, highlighting the need for thorough checks. The Federal Aviation Administration demands detailed inspections before these planes can fly again. This issue has led to flight cancellations and a significant drop in Boeing's shares. Boeing's leadership is stressing safety and quality in response to these challenges.

Barclays reduced its headcount by 5,000 in 2023

Barclays has reduced its workforce by about 5,000 people in 2023, marking a significant move in its effort to cut costs. This reduction, which is about 6% of its global staff, mainly affected support function roles. It's part of the bank's plan to streamline operations, involving the removal of management layers and the adoption of improved technology. Despite the job cuts, Barclays is still hiring for specific front-office roles in key areas. The decision comes as the bank looks to boost its stock value and prepare for an updated strategy to be revealed in February. This change reflects the bank's focus on efficiency and adapting to current financial challenges.