The OpenAI talent exodus has become the joke of the moment in tech world
Mira Murati’s departure follows a series of high-profile exits from OpenAI this year. Mira Murati’s departure from OpenAI — the latest in a series of high-profile exec losses from the ChatGPT-maker — has sent shockwaves across the tech sector. There’s rampant speculation about why Murati, who served as chief technology officer and interim CEO after…
Why oil prices have plunged 3% today
A gas flame is seen in the desert near the Khurais oilfield, about 160 km (99 miles) from Riyadh. A report that Saudi Arabia would ditch its unofficial crude price target sent crude oil prices sharply lower on Thursday. According to sources that spoke with the Financial Times, the kingdom will no longer seek a…
Nvidia continues acquisition streak with OctoAI
Nvidia has acquired OctoAI in its fifth deal this year, making it the chip giant’s most acquisitive year yet. The five-year-old startup creates software to improve the performance of machine learning models. “I couldn’t be more excited to join NVIDIA and contribute to expanding efforts in ML compilers and cloud infrastructure for AI,” OctoAI CEO…
It’s refinancing time: Americans are already capitalizing on lower rates
Aerial view of a residential area with houses in the Phoenix suburb of Chandler. Mortgage rates are falling as the Fed starts its long-awaited easing process, and homeowners are finally taking advantage. The Mortgage Bankers Association’s refinancing index soared 20.3% last week to its highest level since April 2022, according to data released Wednesday. That…
It could soon get a lot harder for Russia to deal in Chinese yuan
It may about to be way harder for Russia to get its hands on Chinese yuan. That’s because a key license from the US Treasury that permits transactions from some of Russia’s financial institutions is about to expire. The result could involve a worsening yuan shortage in the nation, with Chinese banks possibly completely refusing…
A majority of millionaires plan to vote for Harris over Trump in November
A majority of wealthy investors are planning to vote for Kamala Harris over Donald Trump in the upcoming November election. That’s according to a new survey from UBS released on Thursday, which asked US investors with at least $1 million in investable assets their views on the upcoming election. 57% of survey respondents said they…
Stock market today: Indexes rally on China stimulus, promising labor-market data
Customers in Guangzhou, China line up to enter an Apple store. US stocks rallied on Thursday, fueled by China stimulus measures and positive jobs data to pare losses from yesterday. The indexes rallied after leaders in China pledged to support the economy with more strong policy measures. That sentiment comes just days after the country…
China’s surprise stimulus could be a red flag, so investors should approach the nation’s long-awaited rally with caution
China’s Xi Jinping may be dealing with a worse economy than he’s willing to acknowledge. Chinese stocks had their best single-day showing in years earlier this week after China unexpectedly unveiled new economic stimulus efforts, but the long-awaited rally might not last. The flurry of surprise support was designed to kickstart an economy that has…
The housing market is seeing its biggest logjam since before the pandemic
The housing market is in the midst of its biggest slowdown since the pandemic, according to Redfin. The real-estate listings firm cited that 48% of US home listings stayed on the market longer than 60 days in August, the biggest share since 2019. The figure marks a 43% increase from the year before. It’s also…
