News & Events zu US Bancorp (USB)USBUS Bancorp

U.S. Bank Appoints Chris Peary as Chief Private Banking Officer

U.S. Bank announced that Chris Peary has been named chief private banking officer for Wealth Management. Peary brings two decades of increasing leadership experience at U.S. Bank, most recently serving as national banking lead and West region banking manager for Ascent Private Capital Management of U.S. Bank while continuing in his role as a client advisor

OpenAI Set to Generate Over $40B Annual Revenue

Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly.AI AGENTS:AI agents could increasingly automate financial decisions and transactions, potentially disrupting retail banking by weakening banks' customer relationships and increasing deposit liquidity risk, though consumer adoption and trust remain key barriers, American Banker's Joey Pizzolato. Publicly traded companies in the space include Bank of America, Citi, Goldman Sachs, JPMorgan, Morgan Stanley, U.S. Bancorpand Wells Fargo.REVENUE RUN RATE:OpenAI is on pace to generate annualized revenue of over $40B based on its present performance, approximately doubling its run rate from the end of last year and strengthening the ChatGPT maker's plans for an IPO, Bloomberg's Natasha Mascarenhas and Rachel Metz reports, citing people familiar with the matter. The company's revenue has accelerated in recent months, driven partially by the growth of its AI coding software, the authors note.ACQUISITION:Datavault AIsigned a definitive agreement under which Datavault AI will acquire 100% of CyberCatch Holdings in an all-cash transaction structured as a court-approved plan of arrangement under the Business Corporations Act. The acquisition is expected to bring CyberCatch's AI-enabled continuous compliance and cyber risk mitigation platform into Datavault AI's Quantum Private Network GPU ecosystem. Under the definitive agreement, Datavault AI will acquire all of CyberCatch's issued and outstanding common shares, approximately 26.8M shares, for $94,500,000 in cash, representing $3.53 per share to CyberCatch's shareholders. All outstanding dilutive securities of CyberCatch will be exchanged on a cashless-exercise basis. Upon closing, subject to customary board, stock exchange, and any necessary regulatory and shareholder approvals, CyberCatch is expected to operate as a subsidiary of Datavault AI from San Diego, California, with CyberCatch founder, Chairman, and CEO Sai Huda serving as President of the subsidiary and reporting to Nathaniel Bradley, CEO of Datavault AI.AI-RELATED DEMAND:New Street upgraded Micronto Buy from Neutral with a $1,250 price target. Even with the share rally, Micron remains attractively valued based on price-to-cost of goods sold, the firm told investors in a research note. New Street believes Micron's cost of goods sold improvement shows the improving economics of the industry with strengthening profitability and through-cycle cash generation. In 2030, Micron will have over $600B in cash and more than $150B in annual free cash flow, the firm predicted. This corresponds to a $2 trillion to $3 trillion market cap at the end of the decade, versus its current market cap of around $1 trillion, New Street said. It believes memory demand will ramp quickly in the coming years due to AI-related demand.AI NETWORKING DEMAND:Argus kept a Buy rating and $150 price target on Ciscoafter its better-than-expected Q4 results. With its business-to-business business model and little direct-consumer exposure, the company will be able to weather current macroeconomic uncertainty while benefiting from strong AI networking demand, the firm told investors in a research note.

U.S. Bank Extends Partnership with San Francisco 49ers

U.S. Bank and the San Francisco 49ers announced a partnership extension that maintains U.S. Bank as the team's Official Bank Partner and builds upon the brands' shared commitment to the Bay Area. The new multiyear deal strengthens the 49ers-U.S. Bank relationship, which began in 2014, and adds a new practice jersey patch. U.S. Bank will now support all 49ers girls flag football programming, deepening its relationship with youth sports in the Bay Area and beyond. In September, U.S. Bank will help sponsor the 2026 49ers FLAG High School Girls Showcase, bringing together some of the top girls' flag football programs in California.