Table of Contents

• Berkshire Hathaway

• OpenAI

Top Stories Today

Economy & Finance

Berkshire Hathaway

Berkshire Hathaway, led by Warren Buffett, has sold nearly $10 billion worth of Bank of America stock since mid-July, including 8.55 million shares this week for approximately $337.9 million. This reduces Berkshire's holdings by about 23%, though it still retains over 10% ownership in the bank. The company must continue disclosing sales until its stake falls below 10%. Buffett is simplifying Berkshire's portfolio, which also saw a reduction in Apple shares earlier this year. Additionally, Berkshire is set to purchase the remaining 8% of its energy business from the estate of Walter Scott.

Technology

OpenAI

OpenAI recently completed a funding round, raising $6.6 billion and bringing its valuation to $157 billion. The investment was led by Thrive Capital and included Microsoft, Nvidia, and others. This funding will enable OpenAI to enhance its AI research, increase computing capacity, and expand its AI tools. Despite its rapid growth, OpenAI faces challenges like the departure of key executives and high operational costs, projecting a $5 billion loss this year. With 250 million weekly active users on ChatGPT, OpenAI remains focused on AI advancements despite ongoing restructuring discussions.

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