Tag: Wall Street

Bernstein urges Amazon CEO to rethink direction amidst investor concerns. Meanwhile, Reels gains ground against TikTok, AI may worsen loneliness, and older users embrace TikTok. Also, a YouTuber travels 1,800 miles on a gas generator in his Tesla, and Insider lists the best Samsung phones for 2023.

OpenAI, a leading AI company, has ruled out the possibility of going public due to its unique structure. CEO Sam Altman stated that the company's decisions may be viewed as unusual by investors, especially with the development of super intelligence. Bing AI by Microsoft relies on OpenAI technology.

OpenAI CEO, Sam Altman, announced that the Microsoft-backed organization currently has no plans to go public due to the potential for investor decisions to disappoint Wall Street. OpenAI has received $10 billion in funding from Microsoft, and it operates a non-profit hybrid capped-profit model to benefit the public good. OpenAI also warns of AI risks, but the company does not provide any details on its new AI model, GPT 4. Altman recently drew criticism for suggesting that OpenAI may leave the EU due to upcoming regulations on AI.

LTX, Wall Street's Broadridge-owned corporate bond trading platform, has launched BondGPT- a chatbot powered by OpenAI GPT-4 technology. With BondGPT, users can ask anything about bonds, from maturity dates to liquidity rates. While digitisation of bond trading has been slow to take off, firms such as Tradeweb, MarketAxess, and Bloomberg are changing that. BondGPT brings a virtual personal assistant to aid the optimization of electronic trading volumes.

OpenAI CEO Sam Altman announces no plans to go public, stating disinterest in Wall Street and public markets. Despite being valued at almost $30bn, scientists warn about the potential extinction-level risk of its content-generating AI like ChatGPT. Altman confirms the company's commitment to operating in the EU despite previously claiming they may leave if AI regulation laws became too difficult to comply with.