Musk Sues OpenAI 💼 DELL NTAP 📈 ESTC NCYB 📉

FlowBank's hand-curated fresh financial news [header_noDither] Musk Sues OpenAI for Breach of Founding Mission Elon Musk has filed a lawsuit against OpenAI and its CEO, Sam Altman, alleging that the organization has deviated from its original mission of developing artificial intelligence for the broad benefit of humanity. The lawsuit claims OpenAI has become a profit-focused entity for Microsoft, contradicting its founding agreement. This legal battle highlights a significant rift between two leading tech figures amid the rapid development and hype surrounding AI technologies. WHAT'S MOVING [Group 1742 (39)-1] [Start Trading](113/cXx8Z04/VVQNrR5CNNd9VMzXXp29_YKHW2gkVcw5bf3C-N5j5FQd2-ZVTW6N1vHY6lZ3n5W7YFfnq19VvClW740wn_6_bshbW839N8-1CKPXDW6x2JwX6sbjd1N3zl3vp8yD6yW2mwvmX64wt3kN77MYRNz4WYhW2T-Gvf7-GcxmW8V4hQc7vSW3wW4hLn2n5k-pLdW2nYdCc1T-Hy4N2Xm8pSS3WtdW182gxx7SXF7wW5C18XG2J7F7nW20fk6P5wjGw9W3g7dcr8vp-d4N7RWWltZj_ZQW412PFS67G9MMVHbTPR4-865QW6xjMFk1M9W4cN29_3WYTQ8g1W2f_G5f95QNzff5-TNB204) [Group 1750 (39)] Reddit Reddit targets a $6.5 billion valuation for its IPO, aiming to become the first major tech and social media company to go public since Pinterest in 2019. The company plans to trade on the NYSE under the ticker RDDT, with a share price range of $31 to $34. [Group 1752 (30)] Super Micro Computer Super Micro Computer will join the S&P 500 after its stock soars over 20 times in two years, surpassing a $50 billion market cap, fueled by the AI technology boom. The company's recent performance includes a revenue doubling to $3.66 billion in the last quarter. [Group 3 (39)-2] Toyota Toyota is set to invest $2.2 billion in Brazil, aiming to create 2,000 jobs and launch new models, with the announcement to be made in Sorocaba, Sao Paulo. WHAT'S COMING UP? USD: FOMC Member Harker Speaks JPY: Tokyo Core CPI (YoY) (Feb): Exp. 2.5% v Prev. 1.6% IN OTHER NEWS Wall Street U.S. stock futures showed minimal changes over the weekend, following a record-setting performance by the Nasdaq Composite on Friday. S&P 500 futures dipped slightly, alongside a modest decrease in Nasdaq-100 futures, while Dow Jones Industrial Average futures dropped by 66 points, indicating a cautious market mood as stocks aim to extend their recent rally. [Group 1769] Europe & Asia-Pacific European markets are anticipated to open with mixed results, with the FTSE 100 in the U.K. expected to drop by 15 points, while Germany's DAX, France's CAC, and Italy's FTSE MIB are projected to rise. Meanwhile, in the Asia-Pacific region, Japan's Nikkei 225 surpassed the 40,000 threshold, achieving a new record high following the S&P 500 and Nasdaq Composite reaching new all-time highs last Friday. MARKET INSIGHTS Forex Trading Weekly Outlook: All Eyes On Fed’s Favourite Inflation Measure The US dollar index (DXY) failed to leverage the tailwinds stemming from unexpectedly high inflation figures in January, rising Treasury yields and further downward adjustments to anticipated rate cuts for 2024. This lackluster performance is likely attributed to the prevailing bullish sentiment surrounding risk assets, evident as both US and European equity markets continue to flirt with record highs. 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