SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom 
Anthropic AI Model Uncovers Vulnerabilities in Classified U.S. Government Systems During Security Test 
SpaceX Stock Plunges 16% as KeyBanc Warns Valuation May Be Overstretched 
Google’s Open-Source AI Data Center Cooling Design Raises Commoditization Concerns 
Samsung and SK Hynix Shares Jump After Micron Earnings Boost AI Chip Optimism 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
WiseTech Global Denies Knowledge of Investigation Into Founder Richard White 
How AI prompting turned writerly description into an everyday skill 
Tencent Reviews Marvelous Stake as Gaming Giant Reassesses Global Investment Strategy 
US-Iran De-Escalation Shifts Washington’s Focus to AI Regulation and Crypto Legislation 
Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks 
John Jumper Leaves Google DeepMind for Anthropic Amid Intensifying AI Talent Race 
Samsung Electronics Stock Surges on Report of Massive $59 Billion Share Buyback Plan 
Today’s space race could turn fatal if we don’t agree on new rules 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
World Cup technology: from ref cams to AI analysts, cutting-edge research is changing the game 
Apple is sending push messages to Apple Savings account holders informing them of yet another rate increase. The Apple Card Savings Account APY has increased to 4.50%, up from 4.35%.
Apple Savings Account Interest Rate Increased to 4.50% APY
This is the third APY rate hike for the Apple Card Savings Account since December. The first rise was from 4.15% to 4.25%, and the second, implemented in early January, was from 4.25% to 4.35%, as per MacRumors.
Apple's last rate rise brought its APY in line with the APY offered by several other popular high-yield savings accounts from American Express and Discover. With the latest boost, the Apple Savings Account now matches the APY of Marcus by Goldman Sachs.
Since April 2023, Apple Card customers in the United States can access a high-yield savings account through a relationship with Goldman Sachs.
Apple Card users can earn interest on both automatic Daily Cash deposits and personal monies transferred to their accounts. Apple lets consumers deposit up to $250,000.
Apple Savings Accounts See Interest Rate Increase Amid Goldman Sachs Partnership Reevaluation
In December 2023, Apple Savings account holders received push notifications telling them that Goldman Sachs had boosted the account's interest rate to 4.25% from 4.15%. This was the first hike in interest rates since the feature's inception in April 2023.
While the rise was nice for Apple Savings clients and represents a fairly competitive rate, there were other high-yield savings accounts on the market that now offer even greater rates.
The interest rate hike came as Apple and Goldman Sachs discussed how to end their relationship for Apple Card and Apple Savings, as Goldman Sachs was preparing to quit the consumer industry at the time.
Apple presented a proposal to Goldman Sachs to end the agreement in 12-15 months. However, Apple Card and Apple Savings remain available for now.
Apple and Goldman Sachs are apparently looking for a new partner or partners to take over the administration of Apple Card and Apple Savings. It's unclear how this transition may affect the offers.
Photo: blocks/Unsplash
