CNBC has confirmed that OpenAI expects about $5 billion in losses on $3.7 billion in revenue this year — figures first reported by The New York Times.
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Wall Street braces for a turbulent October with jobs report on deck next week
Investors may find it hard to count on another strong month after September’s performance.
Israel says it struck Hezbollah’s headquarters in huge explosion that killed at least 2 people
Hours earlier, Netanyahu addressed the U.N., vowing that Israel’s campaign would continue — further dimming hopes for an internationally backed ceasefire.
Shigeru Ishiba is set to become Japan’s next prime minister after winning ruling party leadership election
Ishiba defeated economic security minister Sanae Takaichi in a runoff, after the two won the most votes in the first round in a crowded field of nine candidates.
China stocks can rally 10% in the near term, Morgan Stanley strategist says
The CSI 300, which tracks major stocks on the Shanghai and Shenzhen exchanges, on Friday closed at 3,703.68 points, up 15.7% for the week.
European shares close at record high; luxury giants rally on China stimulus
European markets closed at a record high Friday, as stocks tracked higher on news of China’s stimulus blitz and investors assessed fresh inflation data.
Commerzbank and UniCredit hold talks as takeover prospect looms
Commerzbank and UniCredit began initial talks Friday, with the German bank on the defensive over a potential takeover.
French inflation cools more than expected in September as energy prices, transport costs decline
France’s harmonized inflation rate fell sharply in September, preliminary data from the National Institute of Statistics and Economic Studies showed Friday.
For Plan Sponsors: Understanding Investment Vehicles and Fees
Plan sponsors would be wise to focus on investment vehicle choice and fee structure. Share class choice impacts fees and investment performance.
David Tepper says the Fed has to cut rates at least two or three more times to keep credibility
Appaloosa Management’s David Tepper said the macro setup for U.S. stocks makes him nervous as the Fed eases policy in a good economy like it did in the 1990s.