CBA (ASX:CBA) share price gains amid Silicon Valley AI partnership

The bank has made another move to employ data and artificial intelligence within its business.
The post CBA (ASX:CBA) share price gains amid Silicon Valley AI partnership appeared first on The Motley Fool Australia. –

The Commonwealth Bank of Australia (ASX: CBA) share price opened in the green this morning amid news the bank is working with a leading Silicon Valley-based artificial intelligence (AI) company.

CBA has partnered with, and bought a minority holding in, Under their agreement, the operator of cloud-based machine learning platform H2O AI Cloud will provide CBA with its product and work to create new solutions for the bank.

The CBA share price popped at market open on Monday, rising to $109.98, before dipping into the red. At the time of writing, CBA shares are creeping back up to $110.06, 0.32% higher than the previous close.

For context, the broader market followed a similar pattern this morning, popping on open before dipping into the red. Right now, the S&P/ASX 200 Index (ASX: XJO) is up 0.08% while the All Ordinaries Index (ASX: XAO) is up 0.6%.

Let’s take a closer look at today’s news from CBA.

CBA banking on AI-led future

The CBA share price is up after the bank announced its latest push to increase trust, confidence and engagement in its business.

The bank plans to use AI to help its customers save money while shopping across, and drive sales to, platforms including Little Birdie, Karta, CommBank Rewards, and Klarna.

The technology will also help the bank’s retail and business customers predict bills and forecast cash flows. It could potentially predict energy use and, thus, help lower carbon emissions. provides AI services to more than 20,000 organisations, including more than half of the Fortune 500. It also employs the top 20 Kaggle grandmasters – a title given to best-in-the-world data scientists and machine learning practitioners.

CBA is now the AI company’s exclusive financial services partner in Australia and New Zealand.

The bank’s CEO, Matt Comyn, commented on the partnership:

This partnership will accelerate our ability to deliver a broader customer proposition through more personalised experiences, which delivers greater value for our customers… the more our customers engage with us, the better we are able to anticipate their needs.’s founder and CEO, Sri Ambati, said the partnership “will be fun”:

[It] will unleash the juggernaut of co-innovation in AI for payments and further democratise AI with trust and freedom. Our vision is not only to make CBA an AI superpower but make Australia an AI nation as we move to life after COVID.

CBA’s partnership with is the latest step the bank has taken to embrace data and technology within its business. Earlier this year, CBA entered a joint venture with data science firm Quantium. Under the joint venture, the two entities will provide data to governments, businesses, and investors.  

CBA share price snapshot

It’s been a great month so far for the CBA share price. Since the end of October, the bank’s stock value has increased around 5%.

CBA shares have gained 33% since the start of 2021 and 57% since this time last year.

The post CBA (ASX:CBA) share price gains amid Silicon Valley AI partnership appeared first on The Motley Fool Australia.

Should you invest $1,000 in Commonwealth Bank right now?

Before you consider Commonwealth Bank, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Commonwealth Bank wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Own CBA shares? Here’s how the share price performed in October

Brokers name 2 excellent ASX 200 dividend shares to buy

What these three experts are saying about the CBA crypto service

ASX 200 (ASX:XJO) midday update: CBA enters crypto market, AMP jumps

CBA (ASX:CBA) just became the first Aussie bank to offer Bitcoin and crypto services

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!