ibt-mailAug 30, 2024, 10:07 AM

Apple In Discussions To Invest In OpenAI: Report

Newsletter Aug 30, 2024 Quick Six Apple is part of the partnership to invest in OpenAI: Report iPhone juggernaut Apple is in talks to invest in OpenAI, creator of ChatGPT and the biggest name in

Newsletter Aug 30, 2024

Quick Six

Apple is part of the partnership to invest in OpenAI: Report
iPhone juggernaut Apple is in talks to invest in OpenAI, creator of ChatGPT and the biggest name in generative artificial intelligence, the Wall Street Journal reported Thursday. Apple is at the funding table as OpenAI raises more money to help meet the heavy costs of building new technology. Reports said that OpenAI is in talks to reach a valuation of $100 billion in the funding round led by venture capital firm Thrive Capital, which will pump in $1 billion.
REPORT SAYS THAT MICROSOFT IS ALSO IN PARTNERSHIP

US economy grew at 3% annual rate in Q2, topping forecasts
The U.S. economy grew faster than expected in Q2, expanding at a 3% annual rate, according to updated data from the Commerce Department. This is a slight increase from the earlier estimate of 2.8%, largely due to stronger consumer spending and higher business investment. Consumer spending rose at an annual rate of 2.9%, business investment also picked up, growing by 7.5%, driven by a notable 10.8% jump in spending on equipment.
WHAT THE LATEST DATA INDICATE ABOUT A SOFT LANDING

Ford is latest US company to back away from DEI programs
Ford Motor Co. has become the latest company to back away from diversity, equity and inclusion (DEI) programs amid pressure from conservative groups, according to reports. Conservative commentator Robby Starbuck claimed he was in the "middle of investigating woke policies" at Ford but got confirmation that the manufacturer would be "making changes." He has also hounded other companies, like Lowe's, Tractor Supply and John Deere.
WHY MORE COMPANIES ARE BENDING TO DEI OPPOSITION

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Markets

DJIA	41,335.05	0.59%
S&P 500	5,591.96	0.00%
Nasdaq Composite	17,516.43	-0.23%
Japan: Nikkei 225	38,362.53	-0.02%
UK: FTSE 100	8,379.64	0.43%
Crude Oil Futures	75.90	-0.01%
Gold Futures	2,554.40	-0.23%
Yen	144.95	-0.03%
Euro	1.11	0.00%
* As of market close

Army scolds Trump over Arlington incident

The U.S. Army on Thursday scolded Donald Trump for holding a political event at Arlington National Cemetery earlier this week and vouched for the "professionalism" of the employee who was "unfairly attacked" by members of the former president's campaign team. The woman was pushed by the Republican presidential nominee's staffers on Monday when she tried to prevent them from taking video and photographs in an area of cemetery known as Section 60, where U.S. military members in the recent wars in Iraq and Afghanistan are buried.

SEE WHY US ARMY OFFICIALLY CONSIDERS THE ISSUE CLOSED

California passes powerful AI safety bill

A bill aimed at regulating powerful artificial intelligence models passed California's legislature on Wednesday, despite outcry that it could kill the technology it seeks to control. The bill had faced a barrage of critics, including Democratic members of US Congress, who argued that threats of punitive measures against developers in a nascent field would throttle innovation. It did, however, win the reluctant support of Elon Musk, who argued that AI's risk to the public justifies regulation.

HOW THE NEW AI LEGISLATION HAS DIVIDED SILICON VALLEY

Bank worker dead at her desk for four days

A foul odor at a Tempe, Arizona Wells Fargo bank office that some employees thought was bad plumbing turned out to be the smell of a co-worker who had been dead at her cubicle for four days. Denise Prudhomme, 60, was discovered by a bank employee on Aug. 20, four days after she was last recorded entering the building. Tempe police do not suspect foul play as the death appears to be by natural causes.

WHY IT TOOK SO LONG FOR THE BODY TO BE DISCOVERED

Extra point

What is the oldest continuously operating bank in the United States?

Thursday's answer: Apple was the first to reach $1 trillion in value in 2018. It hit a $2 trillion valuation in 2020, second only to Saudi Aramco.

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