Articles for tag: artificial intelligence, corporate governance, ethical concerns, for-profit, OpenAI, Sam Altman, Transition

October 28, 2024

OpenAI’s transformation from nonprofit to for-profit entity sparks controversy, with Elon Musk alleging a betrayal of its original mission.

OpenAI started in 2015 as a nonprofit focused on creating artificial intelligence that benefits everyone. Over time, it has achieved groundbreaking advancements, turning into one of the world’s most valuable startups. However, the transition from nonprofit to for-profit has raised concerns and internal conflicts, especially when CEO Sam Altman was ousted in a controversial board ...

October 26, 2024

Market News

Business

SEC Rejects Musk’s ,923 Offer in Twitter Purchase Investigation

SEC Rejects Musk’s $2,923 Offer in Twitter Purchase Investigation

The US Securities and Exchange Commission has rejected Elon Musk's offer of $2,923 to settle claims related to his 2022 Twitter purchase. The SEC argues that the amount is insufficient for the three agency lawyers who were prepared to question him last month in the ongoing investigation.

October 25, 2024

Market News

Business

Jefferies Financial Group Gains 5.33% Voting Rights in Commerzbank AG

Commerzbank AG has revealed that Jefferies Financial Group Inc. now holds 5.33% of its voting rights. This adds to the list of investment banks with financial stakes in the German lender.

October 25, 2024

Market News

Business

WiseTech Global shares surge as CEO Richard White changes role

WiseTech Global Ltd. shares bounced back swiftly after CEO Richard White transitioned to a different role. This move comes as part of efforts to address serious allegations regarding his behavior towards women. Investors reacted positively, reflecting a renewed confidence in the company's leadership transition.