Keycard, an AI-powered identity and access management platform, secures $38 million in funding, led by a16z and others.

The post BlackRock Increases U.S. Stock Exposure Amid AI Surge appeared on BitcoinEthereumNews.com. Key Points: BlackRock significantly increased U.S. stock exposure. AI sector driven gains boost S&P 500 to historic highs. Shift may set a precedent for other major asset managers. BlackRock, the largest asset manager, significantly increased U.S. stock and AI sector exposure, adjusting its $185 billion investment portfolios, according to a recent investment outlook report.. This strategic shift signals strong confidence in U.S. market growth, driven by AI and anticipated Federal Reserve moves, influencing significant fund flows into BlackRock’s ETFs. The reallocation increases U.S. stocks by 2% while reducing holdings in international developed markets. BlackRock’s move reflects confidence in the U.S. stock market’s trajectory, driven by robust earnings and the anticipation of Federal Reserve rate cuts. As a result, billions of dollars have flowed into BlackRock’s ETFs following the portfolio adjustment. “Our increased allocation to U.S. stocks, particularly in the AI sector, is a testament to our confidence in the growth potential of these technologies.” — Larry Fink, CEO, BlackRock The financial markets have responded favorably to this adjustment. The S&P 500 Index recently reached a historic high this year, supported by AI-driven investment enthusiasm. BlackRock’s decision aligns with widespread market speculation on the Federal Reserve’s next moves, further amplifying investor interest and confidence. AI Surge Propels S&P 500 to Historic Highs At no other time in history has the S&P 500 seen such dramatic gains driven by a single sector as the recent surge spurred by AI investments in 2023. Experts suggest that the strategic increase in U.S. stock exposure by BlackRock may set a precedent for other major asset managers. Historically, shifts of this magnitude have influenced broader market behaviors as others follow suit. Market analysts point to the favorable economic environment and technological advancements that are propelling the AI sector’s momentum. The continued growth of AI technologies is…

PANews reported on September 18 that according to CoinDesk, PayPal's stablecoin PYUSD is now officially launched on the Stellar network.

FLOKI has stunned the crypto market with a quick 22% surge in the past 24 hours after gathering the attention of crypto traders and meme-coin enthusiasts. The price spike, which saw the meme coin climb from around $0.000066 to as high as $0.0000879, came with a sudden surge in trading volume across major exchanges. The […]