Streetbeat News

Corporate Responsibility

MSFT

Sam Altman has been reinstated as the CEO of OpenAI, with a new board being formed that includes Bret Taylor as Chair, Larry Summers, and Adam D'Angelo. This follows a period of intense drama at the Microsoft-backed OpenAI. The details of the arrangement are still being worked out, and Altman has expressed his commitment to the team and mission of OpenAI.

Portfolio Pulse from Rounak Jain

November 22, 2023 | 6:16 am

CRM

GOOG

GOOGL

MSFT

NVDA

Following the removal of Sam Altman as CEO of OpenAI, competitors like Google (Alphabet Inc), Anthropic, Nvidia, and Salesforce have reported increased interest from customers and potential employees. Google has seen a surge in activity, Cohere has experienced a rise in inquiries, and over 100 customers have reached out to Anthropic. Salesforce's CEO Marc Benioff has invited OpenAI researchers to join his company. This comes after an internal revolt at OpenAI, with reports of employees willing to leave for Microsoft, where Altman is now employed.

Portfolio Pulse from Ananya Gairola

November 22, 2023 | 5:49 am

BNB-USD

BTC-USD

DOGE-USD

ETH-USD

Over $225 million in crypto positions were liquidated following Binance CEO Changpeng Zhao's resignation. The liquidations were predominantly in long positions, with Binance seeing $98 million in trades. Bitcoin, Ethereum, Binance Coin, and Dogecoin were notably affected, with Bitcoin and Ethereum taking the largest hits. Zhao's departure and the subsequent withdrawal surge of $566.8 million from Binance have contributed to market instability.

Portfolio Pulse from Mehab Qureshi

November 22, 2023 | 5:30 am

SQ

Block Inc. (NYSE:SQ) CEO Jack Dorsey is changing the company's performance management by eliminating annual performance reviews and PIPs, aiming to foster a 'culture of excellence'. Dhanji Prasanna has been appointed as the new CTO. Regular evaluations will replace annual reviews, with immediate dismissal for underperforming employees. Despite these changes, Block has seen a 37.5% increase in Bitcoin revenue and a gross profit of $44 million from Bitcoin in Q3, leading to a rise in its share price.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 4:48 am

MSFT

Microsoft (NASDAQ:MSFT) is facing internal discontent after announcing the hiring of OpenAI employees with matched compensation. This has caused unrest among existing staff who have experienced job insecurity, layoffs, and salary freezes. The hiring of OpenAI's ex-CEO Sam Altman and President Greg Brockman to lead a new AI research group has added to the perceived disparities. OpenAI's board is struggling to manage a crisis as over 96% of its employees demanded the board's resignation and are ready to quit, potentially following Altman to Microsoft.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 3:49 am

BRK.B

Warren Buffett, Chairman of Berkshire Hathaway Inc., has donated approximately $866 million in company stock to four family charities. The donation includes 1.5 million Class B shares to the Susan Thompson Buffett Foundation and 900,000 Class B shares divided among charities led by his children. Buffett, aged 93, reaffirmed his commitment to philanthropy and intends to give away over 99% of his wealth to charitable causes. Since 2006, he has donated about $52 billion in Berkshire stock to various charities.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 2:54 am

MSFT

OpenAI and Microsoft Corporation (NASDAQ:MSFT) are being sued by author Julian Sancton for copyright infringement, alleging they used non-fiction authors' works to train their AI systems without permission. Sancton seeks damages and a court order to stop the infringement. This lawsuit is the first to involve Microsoft, a major investor in OpenAI, which has integrated OpenAI's technology into its products. OpenAI and Microsoft have faced similar allegations before but have denied them.

Portfolio Pulse from Ananya Gairola

November 22, 2023 | 2:49 am

BTCUSD

Economist Nouriel Roubini, also known as 'Dr. Doom', expressed satisfaction on Twitter over the resignation of Binance CEO Changpeng Zhao, who is facing criminal charges for anti-money laundering violations. Roubini has previously accused Binance of facilitating illegal transactions and criticized Zhao, who recently agreed to step down and plead guilty, with Binance set to pay $4.3 billion in fines.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 1:33 am

SENEA

SENEB

Seneca Foods Corporation has initiated a voluntary recall of mislabeled Hy-Vee Turkey Gravy, which actually contains beef gravy and an undeclared soy allergen. The recall is limited to 12 oz glass jars with specific lot codes and affects only Hy-Vee sold products. No consumer illnesses have been reported.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:13 pm

SBUX

The Strategic Organizing Center, a coalition of labor unions including the Service Employees International Union, is pushing for three seats on Starbucks' board. This move intensifies the ongoing conflict over worker pay and conditions, as the group aims to influence the company's governance due to perceived oversight failures regarding employee treatment.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:10 pm