Financial Summary: Tuesday, February 24, 2026

HSBC forecasts that advancements in AI will boost enterprise software, benefiting legacy vendors amid fluctuating tech stocks.

Meta partners with AMD for AI chip development while continuing to invest in Nvidia GPUs, escalating competition in AI hardware.

AI wealth tech startup Sherpas has raised seed funding to accelerate its development efforts.

Anthropic launches new AI tools to enhance user experience, following recent legal challenges and pressure from Pentagon officials.

AmpliTech Group unveils new 5G base station units to support global Open RAN deployments, advancing telecommunications.

Microsoft and SpaceX's Starlink collaborate to improve global internet access, potentially boosting demand for Starlink services.

Cursor announces significant updates to its AI coding agents, intensifying competition in the coding tool market.

Wall Street experienced a significant decline, with the Dow dropping 1.7% amid concerns over AI's impact on the market.

IBM shares fell 13%, marking the largest drop in 25 years, due to fears of AI disrupting legacy systems.

Bitcoin prices dropped over 5% to below $63,000, influenced by rising tariff tensions and geopolitical risks.

Indian equity benchmarks Nifty and Sensex rose by 0.6% as foreign investors turned net buyers during a broader market selloff.

Trex stock plummeted 36% following Wasatch's sale of $63 million in shares, raising investor concerns.

The SEC faces criticism for allegedly silencing shareholders, raising concerns about corporate governance and market transparency.

Two portfolio companies announced dividend hikes, prompting an increase in price targets for investors.

The Reserve Bank of India is investigating a ₹590 crore fraud case involving IDFC First Bank, ensuring banking sector stability.

Haryana's Chief Minister has launched a probe into the IDFC First Bank fraud case, led by the Anti-Corruption Bureau.

India's economy is projected to grow at 7.4%, fueled by fiscal stimulus and new trade agreements attracting foreign investment.

The Indian government plans to divest up to 4% stake in the Indian Railway Finance Corporation (IRFC) through an offer for sale.

Savannah Guthrie has announced a $1 million reward for information about her missing mother, last seen in Arizona on January 31.

The rise in romance scams has led to significant financial losses for victims, raising concerns about online safety.

A couple has successfully transformed an abandoned fire station in Cedar Rapids, Iowa, into their dream home after purchasing it for $90,000.

Ukrainian President Zelenskyy has called for a ceasefire with Russia, indicating a potential shift in the ongoing conflict.

Panama has canceled a major port deal with China, transferring control of canal terminals to Maersk and MSC, escalating geopolitical tensions.

European nations are intensifying discussions on forming a unified military force to enhance security amid the ongoing Ukraine war.

China's central bank has decided to keep its benchmark lending rates unchanged to support its slowing economy and stabilize the yuan.

The U.S. military build-up aimed at Iran faces criticism as regional tensions escalate, with Trump considering further military action.

FedEx is suing the U.S. government for a refund of tariffs deemed illegal by the Supreme Court.

JPMorgan's CEO Jamie Dimon reassured investors about the positive impact of AI on the bank's operations.

Uber is acquiring parking app SpotHero to expand its services beyond ride-hailing.

IDFC First Bank's stock dropped 16% following a fraud discovery, raising concerns about its stability.

Bharti Airtel plans to invest ₹20,000 crore in its new NBFC, Airtel Money, to enhance financial services.

MobiKwik shares surged 13% after its subsidiary received BSE approval to start stock broking operations.

Home Depot exceeded fourth-quarter earnings expectations despite a decline in sales, marking a turnaround.

Citi announced a $2.5 billion deal to sell 24% of Banamex to investors, marking a significant restructuring move.

Renault has taken full ownership of its electric LCV joint venture, Flexis, signaling a strategic shift towards electric vehicles.

Schaeffler India announced a Rs 35 per share dividend following a 36% YoY rise in Q4 net profit.

Standard Chartered India reported a 15% increase in profit before tax to $542 million for 2025.

Spirit Airlines plans to reduce its flights and fleet as part of a strategy to emerge from bankruptcy by late spring or early summer.

Charter Communications is expanding its fiber internet network to enhance service availability.