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Finance

Major financial firms move to block access by personal AI agents, citing deposit flight risk

Citigroup and Bank of America have blocked AI agents from accessing customer accounts, the Financial Times reported, citing concerns that bots could shift funds to seek higher returns and drain deposits. Citigroup said it does not allow third-party AI agents to log in or trade directly on its platforms. Bank of America CEO Brian Moynihan signalled limits will remain until responsibility for AI-approved payments is clarified.

AI & Enterprise

Nvidia unveils Nemotron 3.5 open models for AI agents, targeting server to edge

Nvidia on Oct. 15 unveiled new open models aimed at helping companies build a range of AI agents, including Nemotron 3.5 Super VL and Nemotron 3.5 Volt for local and edge devices. Nvidia said Super VL has performance similar to its largest reasoning model at one-fifth the size and can handle text, images and video. Companies including Atlassian and Salesforce have further trained the model on their data.

AI & Enterprise

AI bottleneck is memory, not demand, Dell CEO says, with outlook to worsen next year

Michael Dell says Dell Technologies can withstand a cooling AI market because its cash conversion cycle remains negative under a just-in-time model. The Wall Street Journal reported he said the main constraint is not demand but a lack of memory chips needed to deliver ordered AI servers on time. Dell has added thousands of AI data centre customers and has a $95 billion AI server backlog. He said conditions could be worse next year.