💼 Sam returns

Sam Altman returns as OpenAI CEO in dramatic reversal… your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 November 22, 2023 | [Read Online]( ☕️ Good Morning. Enjoy your holiday - we’ll see you back here Monday. The Fast Five → , Binance CEO agrees to [plead guilty]( and pay $50M fine, Fed gave [no indication]( of possible rate cuts in last meeting, FDIC forms special committee to review [allegations](, and Nvidia’s [revenue triples]( as chip boom continues. Full briefing ahead, but first… Do you think OpenAI will recover from this saga? - [YES - but will take some time]( - [NO - too much damage]( - [MAYBE- but it will never be what it was]( Your 5-minute briefing for Wednesday: BEFORE THE OPEN As of market close 11/21/2023. MARKETS: - Nasdaq 100 futures down 0.2% as Nvidia's earnings impact assessed. - S&P 500 futures dip 0.1%, Dow near flat. - Nvidia shares slide over 1% in extended trading despite beating Q3 earnings and revenue expectations. - Concerns rise over Nvidia's stock possibly being overvalued after a 200%+ surge this year. - S&P 500 and Nasdaq end five-day winning streak; Dow falls 0.18%, S&P 500 down 0.20%, Nasdaq drops 0.59%. - Federal Reserve maintains restrictive monetary policy, signaling no imminent interest rate cuts. - Watch for durable goods orders, jobless claims, and consumer sentiment data Wednesday. - Deere & Co. reports fiscal Q4 results before Wednesday's opening bell. EARNINGS Happy Thanksgiving 🦃 - Full earnings calendar [here]( NEWS BRIEFING [Sam Altman Returns as OpenAI CEO in Dramatic Reversal]( Reinstatement follows intense pressure from OpenAI’s investors. Employees threatened to quit without Altman’s restoration. The new-look board as Altman returns. [Binance CEO ‘CZ’ Agrees to Plead Guilty, Pay $50 Million Fine]( Company to pay $4.3 billion, plead guilty to criminal charges. Zhao’s sentencing is delayed by 6 months, lawyers said. - Fed gave no indication of possible rate cuts at last meeting, minutes show ([more]() - Israel and Hamas agree to short truce for hostage release ([more]() - Biden and Xi’s meeting sent an important signal for U.S. business in China ([more]() - U.S. FDIC announces special committee to review allegations of sexual harassment, misconduct ([more]() - Home sales fell to a 13-year low in October as prices rose ([more]() - Many Americans say their household expenses are outpacing earnings this year ([more]() - OpenAI encourages staff to focus on work despite boardroom chaos ([more]() - US retailers brace for a tough holiday season despite discounts ([more]() - JPMorgan says ‘the golden year’ for carry trades is near its end’ ([more]() - If you're in cash, you risk missing out, bond managers of $2.5 trillion say ([more]() - Nvidia’s revenue triples as AI chip boom continues ([more]() - Sony facing $7.9 bln mass lawsuit over PlayStation Store prices ([more]() - Apple illegally withheld benefits from union workers, US Labor Board alleges ([more]() - Musk defends himself on X after antisemitic furor deepens ([more]() - NFL committed to X partnership despite Musk getting heat ([more]() - Uber is said to boost convertible bond issue to $1.5 billion ([more]() - Barry Silbert’s crypto empire continues to spiral as ex-NYSE president buys news site CoinDesk ([more]() - Tiger Global’s Scott Shleifer steps down as head of private investing ([more]() TOGETHER WITH TRADINGVIEW Save 70% with our Black Friday deal of the year — Please support our sponsors DEALFLOW - Athena Capital seeks $500 million for investments in mission-driven companies ([more]() - Material Impact, a deep tech venture capital firm, closed its third fund, at $352M ([more]() - Twelve Below, an early stage venture capital firm, closed two funds totaling $108M ([more]() - LucidLink, a provider of a storage collaboration platform, $75M in Series C funding ([more]() - Interplay, a venture capital firm focused on investing in technology-enabled businesses across Seed, Series A and Series B, closed its third fund, at $45M ([more]() - Alto Neuroscience, a mental health company, raised $45M in Series C funding ([more]() - Supera Medical, a company advancing a percutaneous ventricular assist device, raised $40M in Series D funding ([more]() - Privy, a builder of APIs to onboard users to consumer crypto products, raised $18M in Series A funding ([more]() - Vendelux, a provider of an AI-powered event intelligence platform, raised $14M in Series A funding ([more]() - Expanso, a company providing open-source software that helps enterprises manage their data needs, raised $7.5M in Seed funding ([more]() - Layer AI, an AI-powered provider of a productivity tool for gaming companies, raised $1.8M in seed funding ([more]() - Scalestack, a provider of an AI-powered data enrichment, prioritization/activation platform for RevOps, raised $1M in their First funding ([more]() - ECOR Global, a company specializing in the manufacture of sustainable materials and circular solutions for the building products and packaging markets, received an investment from Phalanx Impact Partners ([more]() - AppBrilliance, a provider of a platform for real-time account-to-account payment acceptance, received a strategic investment from Trust Ventures, the corporate venture capital arm of Truist Financial (NYSE: TFC) ([more]() M & A: - Resources Connection (Nasdaq: RGP), a consulting firm, acquired CloudGo Pte Ltd., a consulting firm and Elite ServiceNow partner ([more]() - Spectrum Science, a healthcare and scientific marketing, communications and media firm, acquired CrowdPharm, a healthcare advertising company and its partner consultancy, Hot Iron Health ([more]() - OEP acquires TechnipFMC’s Measurement Solutions Business ([more]() - Unity Partners-backed NDH buys Stratus Group ([more]() - Gridiron-backed Colibri Group buys LLCP’s Therapeutic Research Center ([more]() Was this briefing forwarded to you? ([Sign up here](.) CRYPTO - Binance bot huge due to U.S. customers. that was illegal, U.S. says ([more]() - Binance's CZ and the end of the 'borderless' Crypto company ([more]() - Celsius Network pivots to bitcoin mining after bankruptcy ([more]() BULLISH BITES 🤪 House of cards: Inside OpenAI's [weird]( governance structure. 🏚 On the mend: [Bad business]( is breaking the smart home — good regulation can fix it. 🎬 Words of wisdom: Famed director Christopher Nolan on the [promise and peril]( of technology. 🧑‍🎓 What? Students are now earning college credit for [small talk](. 🚨 Save 50%! [Pre-Black Friday]: [IBD Digital]( just gave us the best price of the year just for you! [Get 50% off right now]( - don’t miss out, this exclusive offer expires in less than 72 hours. DAILY SHARES [tw profile: Not Jerome Powell] Not Jerome Powell @alifarhat79 [tw] Forbes does it again Nov 21, 2023 5.94K Likes 919 Retweets 176 Replies [tw profile: BuccoCapital Guy] BuccoCapital Guy @buccocapital [tw] I wonder who will win the negotiation? Kara Swisher @karaswisher Update on @OpenAI situation: Many sources tell me fruitful negotiations are taking place now between @sama side (he has a crew of well known outside tech pals helping like @bchesky and @btaylor) and the board side, who are repped by @adamdangelo and interim ceo @eshear. Nov 21, 2023 111 Likes 3 Retweets 7 Replies [tw profile: gaut] gaut @0xgaut [tw] The last OpenAI employee trying to figure out why chatgpt went down Nov 21, 2023 1.25K Likes 84 Retweets 40 Replies Know someone who would enjoy this? [CLICK TO SHARE 🔥Â]( What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( Like what you see? 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