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A high-yield savings account is essentially the same as a traditional savings account with one key difference — high-yield savings accounts pay a higher than average APY on deposits. An APY, or annual percentage yield, is the amount of interest earned on an account in one year. The APY for high-yield savings accounts can be anywhere from 3% to over 5% — much higher than that of a traditional account. <br/><br/>Savings rates have been on the rise following a series of interest rate hikes by the Federal Reserve, as the central bank has sought to reduce inflation. The Fed opted to raise rates at the last meeting, raising the federal funds rate, a key bank lending rate, to a target range of 5.25%-5.50%. Experts believe that the Fed may raise rates again at the next meeting. Higher interest rates could potentially increase savings rates further, so many recommend locking in rates now while they're on the rise. Over time, rates will decrease as inflation cools.<br/><br/>Since the rate of return on high yield savings accounts is better than that of traditional savings accounts, you'll be able to accrue more cash over time. You can use our tool, in partnership with Bankrate, to compare savings rates today.

What Are High-Yield Savings Accounts?

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Intel Reveals , New AI Chips.<br/>On June 4, Intel announced its new <br/>Xeon 6 processor, CNBC reports. .<br/>The new AI chips will help to <br/>provide better performance and more efficient power for data centers.<br/>The announcement follows similar <br/>launches from rivals Nvidia and AMD.<br/>The announcement follows similar <br/>launches from rivals Nvidia and AMD.<br/>Intel launched its 5th Gen Intel Xeon processors just six months ago.<br/>In April, the company <br/>unveiled the Gaudi 3 processor.<br/>Customers are looking for high <br/>performance, cost-effective gen AI <br/>training and inferencing solutions. <br/>And they’ve started to turn <br/>to alternatives like Gaudi. , Patrick Gelsinger, chief executive officer of Intel Corp., via statement.<br/>They want choice. They want <br/>open software and hardware <br/>solutions and time to market <br/>solutions at dramatically lower <br/>TCOs [total cost of ownership], Patrick Gelsinger, chief executive officer of Intel Corp., via statement.<br/>Intel plans \

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