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MARKET MOVERS

  • Big banks are teaming up to launch a digital wallet that people can use to shop online. Wells Fargo, Bank of America Corp., JPMorgan Chase, and four other banks are working on a new product that will allow shoppers to pay at merchants’ online checkout with a wallet that will be linked to their debit and credit cards.* The digital wallet will be managed by Early Warning Services LLC, which also operates the money-transfer service Zelle.
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  • Microsoft is making a huge commitment to the future of AI. The tech giant has announced a multiyear, multibillion-dollar investment with the artificial intelligence lab OpenAI. This is the third phase of the partnership, following Microsoft's previous investments in 2019 and 2021. Microsoft says the renewed partnership will accelerate breakthroughs in AI and help both companies commercialize advanced technologies.

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