America’s oldest bank is going all in on AI. BNY spends nearly $4 billion a year on technology, or about 19 percent of its revenue – a proportion far higher than any of its big-bank peers. But the big concern around the bank industry’s AI spending right now is what the return will be. CNBC’s Leslie Picker dives into BNY’s latest AI efforts and what it could mean for the future of the firm.

Reporting by: Leslie Picker
Senior Producer: Ritika Shah
Senior Managing Producer: Tala Hadavi
Graphics: Emily Park, Darren Geeter
Camera by: Oscar Molina and Alexander Bedoya
Edit by: Edward Fetner
Additional footage: Getty Images

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America’s Oldest Bank Bets Big On AI Amid Arms Race

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Rivian’s share price has plunged about 85% since going public in 2021. Now, the EV maker is betting its future on a new vehicle: Rivian R2, a midsize SUV for $45,000. Founder and CEO, RJ Scaringe, gives CNBC’s Robert Ferris an exclusive look at the new, more affordable electric vehicle, hoping to turn the company around and compete with the likes of Tesla.

Chapters:
1:37 Chapter 1 – Launching a new EV brand
4:00 Chapter 2 – Rivian R2
6:26 Chapter 3 – All in on autonomy
9:21 Chapter 4 – R3 and expansion plans
10:55 Chapter 5 – Challenges

Produced, Shot and Edited by: Andrew Evers
Reporter: Robert Ferris
Senior Director of Video: Jeniece Pettitt
Supervising Producer: Tala Hadavi
Animation: Emily Park
Additional Footage: Getty Images, Rivian

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Rivian Is Betting Big On This $45K SUV

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A new connected ring promises to never make binge cheating an issue again with your significant other. CNBC’s Phil Han reports.
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Binge Cheaters No More: The Commitment Ring | CNBC

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Daniela and Dario Amodei left OpenAI five years ago to form Anthropic.

Anthropic’s revenue has grown 10x annually for three straight years, with 85% coming from business customers — the inverse of OpenAI’s consumer-heavy model.

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Detroit truck heavyweights RAM and Ford are dropping EV full-size pickups for a kind of hybrid called an extended-range EV. They are joined by the upcoming Volkswagen backed Scout Motors, and Hyundai plans to make them, too. Despite the name, an EREV is really a type of hybrid but gets far battery range than a typical plug-in. CNBC’s Robert Ferris breaks down why automakers are betting on this technology and why some experts have doubts.

Producer: Robert Ferris
Editor: Darren Geeter
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional footage: Getty Images

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The Rise Of Extended-Range Electric Vehicles

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