JPMorgan Chase & Co (JPM) – Jamie Dimon, Chairman, and Chief Executive Officer of America’s largest bank, issued a letter to shareholders turning to a more optimistic tone, saying “In spite of the unsettling landscape, 2022 was somewhat surprisingly another strong year for JPMorgan Chase, with the firm generating record revenue for the fifth year in a row, as well as setting numerous records in each of our lines of business,” and “However events play out it, is likely that 20 years from now, America’s GDP will be more than twice the size it is today.”
Meta Platforms Inc (META) – Meta Chief Technology Officer Andrew Bosworth told Nikkei in an interview that the company would be debuting an ad-generating artificial intelligence technology this year — “We feel very confident that … we are at the very forefront. Quite a few of the techniques that are in large language model development were pioneered [by] our teams.”
FedEx Corp (FDX) – Delivery and logistics giant FedEx announced at its DRIVE Investor Event that it would be increasing its dividend and consolidating its operating companies (FedEx Express, FedEx Ground, FedEx Services, and other FedEx operating companies) in an attempt to increase efficiency and flexibility.
Expedia Group Inc (EXPE) – The travel booking company released a ChatGPT-powered AI travel planning chatbot as a new feature for users of the Expedia mobile app — however, shares were down pre-market, with some pointing to implementing AI as no longer a significant positive price trigger.
Spotify Technology (SPOT) – Music streaming and media company Spotify announced that it would be scrapping its live app Spotify Live, but said that some aspects were successful, “We have seen promising results in the artist-focused use case of ‘listening parties,’ which we will continue to explore moving forward to facilitate live interactions between artists and fans.”