Elon Musk Slugs ChatGPT

Elon Musk helped start OpenAI but now he is their sworn enemy. Musk left OpenAI because he didn't like how it was going for-profit.

Musk's new AI company, xAI, is making its chatbot, Grok, open to everyone for free. He believes AI should help people, not just make money for big companies.

Big names like Meta and Google are doing similar things with their AI. This could help make new, cool stuff faster but also has some risks. Some are worried that bad people could use free AI in harmful ways.

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Fintech Valuations Tumble, But Hope Glimmers

Big names in fintech (like Klarna, Revolut, and Stripe) once celebrated for their high valuations, now grapple with drops of up to 78% from their peak worth.

Funding has dried up, with venture capital investments dropping from $141 billion in 2021 to $39 billion in 2023.

And yet, CEOs of these companies are optimistic because their ventures continue to expand their customer base and payment processing volume.

The secondary market, where shares are traded privately, reflects the industry's current sentiment: cautious but not without hope.

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Reddit's Big Leap Forward

Reddit plans to raise almost $750 million by selling shares to the public for the first time. This process is called an initial public offering, or IPO for short.

Reddit will sell 22 million shares. They think each share will cost between $31 and $34.

They’ll use the symbol “RDDT.”

Reddit was launched in 2005. It has over 76 million daily users. And inside, there are over 100 million different communities, called subreddits, about topics from gardening to video games.

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Porsche's Big Bet

2024 is a special year for Porsche. They are launching four new car models. These include a new Macan and a new 911. This is exciting but expensive.

Because of this, they think they will make less money than before. Experts thought Porsche would do better, but the company said it might only make a 15% to 17% profit.

But, Porsche has a plan. They want to start new services and offer special things to customers. They hope this will help them make more money in the future.

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