Internal Revenue Service Commissioner Danny Werfel said on Monday that the tax agency will need to boost its workforce to over 100,000 people over the next three years to achieve its modernization, service and enforcement goals and additional funding will be needed to maintain that extra capacity. Werfel told reporters on his first anniversary in the IRS' top job that near-term hiring will focus on improving taxpayer services and on handling complex audits. He added that the IRS will detail its hiring plans next month in an update to its strategic operating plan for deploying some $60 billion in supplemental funding over a decade from the 2022 Inflation Reduction Act.
Nvidia on Monday unveiled software aimed at making it easier for businesses to incorporate artificial intelligence systems into their work, broadening the chipmaker's offerings. The release highlights Nvidia's push to expand its presence in the AI application execution sector, called inference, where the company's chips don't dominate the market, said Joel Hellermark, CEO of Sana, a maker of AI assistants for companies. Nvidia is best known for providing the chips used to train so-called foundation models like OpenAI's GPT-4.
The yen dwindled near the 150 per dollar level on Tuesday but held its ground ahead of a pivotal policy decision from the Bank of Japan (BOJ), while the U.S. dollar towered over its peers as bets for early rate cuts there were trimmed. Rate decisions from the BOJ and the Reserve Bank of Australia (RBA) come under the spotlight in the Asia day, and currency moves were subdued early on Tuesday with traders hesitant to take on new positions ahead of the outcomes. The yen was last little changed at 149.14 per dollar, while the Australian dollar fell 0.06% $0.6556.
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