Business news in brief
By The Associated Press
Roaring Kitty is back and so are meme stocks
The man at the center of the pandemic meme stock craze returned to the social platform X for the first time in three years and sent prices of those stocks surging overnight.
Keith Gill, better known as “Roaring Kitty,” posted an image Sunday of a man sitting forward in his chair, a meme used by gamers when things are getting serious.
GameStop, which Gill turned into a hot stock after pitching the company on Reddit, is a video game retailer that in 2021 was struggling as consumers switched rapidly from discs to digital downloads. Shares of GameStop, which have faded steadily since 2021, jumped 74% Monday and AMC Entertainment Holdings, another meme stock, leapt 78%.
Agency approves rule to expand transmission of renewable power
WASHINGTON | Federal energy regulators on Monday approved a long-awaited rule to make it easier to transmit renewable energy such as wind and solar power to the electric grid — a key part of President Joe Biden’s goal to eliminate carbon emissions economy-wide by 2050.
The rule, under development for two years, is aimed at boosting the nation’s aging power grid to meet surging demand fueled by huge data centers, electrification of vehicles and buildings, artificial intelligence and other uses.
The increased demand comes as coal-fired power plants continue to be retired amid competition from natural gas, and other energy sources face increasingly strict federal pollution rules, setting up what experts say could be a crisis for electric reliability.
OpenAI
launches GPTo
SAN FRANCISCO | OpenAI’s latest update to its artificial intelligence model can mimic human cadences in its verbal responses and can even try to detect people’s moods.
The effect conjures up images of the 2013 Spike Jonze move “Her,” where the (human) main character falls in love with an artificially intelligent operating system, leading to some complications.
While few will find the new model seductive, OpenAI says it does works faster than previous versions and can reason across text, audio and video in real time.
—From AP reports
