- Anna's DayBreak News
- Posts
- New ChatGPT in the Making, Bitcoin Miners Getting Pummeled and DraftKings Tax Nightmare
New ChatGPT in the Making, Bitcoin Miners Getting Pummeled and DraftKings Tax Nightmare
Anna Eisenberg
May 28, 2024
Anna's Daybreak News
Wednesday, 5:42 AM
May 29, 2024
Good morning news friend! Stay engaged with the dynamic pulse of global news, tracking the ever-evolving landscape of current events. 📰🌟
New ChatGPT in the Making
OpenAI announced the training of a new AI model, poised to succeed GPT-4. Promising more autonomous agent capabilities, the AI will perform actions on your behalf besides just conversing with you.
A critical part of this development is the formation of a Safety and Security Committee. This committee will refine OpenAI’s safety measures and oversee risk assessments and safety protocols.
Meanwhile, two former members of OpenAI's board shared that a critical factor in Sam Altman's firing (last November) was reports of "psychological abuse" by two executives.
They provided screenshots and documentation to support their claims.
Source: Read More
OpenAI announced the training of a new AI model, poised to succeed GPT-4. Promising more autonomous agent capabilities, the AI will perform actions on your behalf besides just conversing with you.
A critical part of this development is the formation of a Safety and Security Committee. This committee will refine OpenAI’s safety measures and oversee risk assessments and safety protocols.
Meanwhile, two former members of OpenAI's board shared that a critical factor in Sam Altman's firing (last November) was reports of "psychological abuse" by two executives.
They provided screenshots and documentation to support their claims.
Source: Read More
Ad: Feeling overwhelmed? Wish you had someone to talk to? Unpack it all with Elliot. Learn More
Bitcoin Miners Getting Pummeled
Bitcoin mining is tougher post-halving. Miners’ revenue per transaction dropped from $192 in March to $60 now. Mining difficulty reached a record high in May.
Miners like Marathon Digital and Riot Platforms saw stocks fall, despite Bitcoin’s price surge to $67,859. Investors now favor new Bitcoin ETFs over mining stocks.
Riot Platforms made a $950 million offer to buy Bitfarms. The proposed price of $2.30 per share is 20% above Bitfarms’ April trading value.
Last month, Bitfarms rejected Riot’s initial approach. Riot plans to call a vote to add directors to Bitfarms’ board.
Source: Read More
Bitcoin mining is tougher post-halving. Miners’ revenue per transaction dropped from $192 in March to $60 now. Mining difficulty reached a record high in May.
Miners like Marathon Digital and Riot Platforms saw stocks fall, despite Bitcoin’s price surge to $67,859. Investors now favor new Bitcoin ETFs over mining stocks.
Riot Platforms made a $950 million offer to buy Bitfarms. The proposed price of $2.30 per share is 20% above Bitfarms’ April trading value.
Last month, Bitfarms rejected Riot’s initial approach. Riot plans to call a vote to add directors to Bitfarms’ board.
Source: Read More
Do you think the US will be able to avoid a recession? |
Robinhood’s $1 Billion Share Buyback
Robinhood announced a plan to repurchase up to $1 billion of its own shares. This move aims to demonstrate the company’s maturity and attract more investors.
The buyback program will start in the third quarter of 2024. Shares in Robinhood jumped 7.4% following this announcement.
Robinhood’s share price has risen 61% this year but remains 58% below its August 2021 peak.
The company has been diversifying its offerings. Now they offer a credit card, retirement accounts and plans to introduce trading in futures and index options.
Source: Read More
Robinhood announced a plan to repurchase up to $1 billion of its own shares. This move aims to demonstrate the company’s maturity and attract more investors.
The buyback program will start in the third quarter of 2024. Shares in Robinhood jumped 7.4% following this announcement.
Robinhood’s share price has risen 61% this year but remains 58% below its August 2021 peak.
The company has been diversifying its offerings. Now they offer a credit card, retirement accounts and plans to introduce trading in futures and index options.
Source: Read More
DraftKings and FanDuel Stocks Plummet Amid Illinois Tax Hike
Illinois is pushing a tax increase on sports betting companies.
The Senate approved a tax hike from 15% to a graduated 40% on gross gambling revenues. JPMorgan predicts a 35% effective tax rate for the companies.
DraftKings says this change will affect their profits by up to $134 million in 2025.
DraftKings’ stock fell 11%. Flutter Entertainment, FanDuel’s parent company, dropped 7%.
Source: Read More
Illinois is pushing a tax increase on sports betting companies.
The Senate approved a tax hike from 15% to a graduated 40% on gross gambling revenues. JPMorgan predicts a 35% effective tax rate for the companies.
DraftKings says this change will affect their profits by up to $134 million in 2025.
DraftKings’ stock fell 11%. Flutter Entertainment, FanDuel’s parent company, dropped 7%.
Source: Read More
A big shoutout to our sponsor, Elliot, the AI Mental Health Coach.
If you’ve got troubles on your mind or need to get something off your chest, Elliot is all ears and expert advice.
As your personalized AI mental health coach, Elliot is there to listen to your concerns and provide personalized guidance, equipping you with the confidence and clarity needed to tackle any emotional issues head-on.
Visit joinelliot.com to learn more.
If you’ve got troubles on your mind or need to get something off your chest, Elliot is all ears and expert advice.
As your personalized AI mental health coach, Elliot is there to listen to your concerns and provide personalized guidance, equipping you with the confidence and clarity needed to tackle any emotional issues head-on.
Visit joinelliot.com to learn more.
Baked with love,
Anna Eisenberg ❤️
What did you think of today's edition? |