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Economy & Finance

U.S. Stocks

Major U.S. stock indices declined, with the S&P 500 and Nasdaq falling 0.6% and the Dow slipping 0.5%, as technology shares faced challenges. Nvidia dropped nearly 3% after Chinese regulators began an antitrust investigation, while AMD fell following a downgrade citing increased competition in the AI space. Other notable tech stocks, including Tesla and Meta, also struggled. Bitcoin's value retreated, signaling reduced investor risk appetite. These losses followed last week's record highs for the S&P 500 and Nasdaq. Analysts remain optimistic about continued market growth despite hurdles like Nvidia's investigation. Meanwhile, upcoming inflation data is expected to indicate a slight rise in consumer prices.

Technology

OpenAI

OpenAI has introduced its AI-powered text-to-video tool, Sora, to ChatGPT Plus and Pro users, expanding its range of multimodal technologies. Initially available only to safety testers since its February preview, Sora Turbo now allows users to create videos up to 20 seconds long in various formats, including widescreen and vertical, at no extra cost. The tool is not yet accessible in the EU, UK, or Switzerland but is available in other regions where ChatGPT operates. OpenAI emphasized safeguards against harmful uses, such as deepfake misuse, and plans to refine and expand Sora's features while introducing tailored pricing next year.

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