Table of Contents

• Visa

• OpenAI

Top Stories Today

Economy & Finance

Visa

Visa's shares dropped by 5.5% after the U.S. Department of Justice filed an antitrust lawsuit against the company, accusing it of suppressing competition by imposing high fees on merchants and paying off potential rivals. Visa, which controls over 60% of U.S. debit transactions, earns $7 billion annually from these fees. The lawsuit is part of the Biden administration's broader effort to address rising consumer prices. Visa's general counsel called the claims meritless and stated that the company will vigorously contest the charges.

Technology

OpenAI

Mira Murati, OpenAI's Chief Technology Officer, announced her departure after six and a half years with the company, citing a desire to explore new opportunities. Her exit follows the recent departures of other high-profile executives. Murati emphasized her commitment to ensuring a smooth transition. Meanwhile, OpenAI is reportedly planning a restructuring to shift to a for-profit model while retaining its non-profit segment. The company is also in the midst of a major funding round, aiming for a valuation exceeding $150 billion.

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