Meta plans to reduce investment in its Metaverse team to save funds for its VR headset business

The Federal Reserve has officially approved two final rules aimed at increasing transparency and reducing capital requirement volatility by approximately 50%. The new regulations will seek public comments on stress test scenarios and will calculate the capital buffer based on the average of the results from two consecutive years of testing. This averaging mechanism will take effect in 2028. The reforms are the result of years of negotiation within the banking sector and have been welcomed by industry groups. However, critics such as Governor Barr warn that the reforms will weaken the constraints of stress testing and reduce the overall resilience of the banking system.

Synopsys has signed a multi-year legally binding agreement with OpenAI to jointly develop GPT-Synopsys, a model specifically trained and fine-tuned for chip design tasks. OpenAI will pay Synopsys a subscription fee for tool licensing, and both parties will share revenue based on improvements in chip design achieved by customers using the product.