🤖 OpenAI's in it for profit

Open AI wants to ditch the "non" in nonprofit, China's stock rally kept, uh, rallying, and monkeys predict the US election | [Finimize]( [TOGETHER WITH](#) Hi {NAME}, here's what you need to know for September 27th in 3:08 minutes. - OpenAI started pushing to become a for-profit company – and key execs left the building the very same day - Here’s where the world’s wealthy have been investing – [Read Now]( - China’s stock market rally continued, thanks to the country’s announcement of support for its struggling property market 🧐 You know what they say: one door closes, and a window opens... Or something like that. Anyway, make sure you know your options with our [latest free guide](. Public Displays Of Defection [Public Displays Of Defection] What’s going on here? OpenAI is [pushing]( to remove the “non” from nonprofit – and that change of attitude might’ve been a bridge too far for some of the startup’s founders. What does this mean? OpenAI was founded as a nonprofit company to ensure that AI benefits all of humanity. But apparently, the greater good and making money can coexist. The startup’s in talks to restructure as a “public benefit corporation”: a for-profit type of company that’s required to balance money-making with positive societal impact. And in the process, CEO Sam Altman will grab a 7% stake. Although, it seems that decision may have been controversial. OpenAI’s higher-ups bolted the day the news broke, including the firm’s highly influential chief technology officer. After something of a mass exodus over the last year, that means Altman’s now one of only two founders left out of the original 11. Why should I care? For markets: The chips are… Up. You can’t build multi-billion-dollar tech startups without the right chips – so much so that the order books of semiconductor companies can indicate how long the AI furor might last. And manufacturer Micron issued a surprisingly strong sales forecast this week, reassuring investors that firms are still shopping for anything AI. That sparked a significant rally in semiconductor stocks, with investors buying up shares of Micron, Samsung, SK Hynix, ASML, and Arm-owner SoftBank. The bigger picture: Never let them know your first move – unless you work in tech. OpenAI triggered rallies across tech stocks and existential crises across continents by introducing ChatGPT. But after setting the standard, the startup is now facing competition from rivals with serious sway. Amazon has tasked thousands of workers with creating cutting-edge AI products and making its Alexa even smarter. And Meta has finally doubled down on its metaverse vision, introducing augmented reality glasses that merge the digital world with the real. You might also like: [Doubts are starting to creep up about AI’s $600 billion bet](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Public Displays Of Defection&utm_campaign=daily-global-27-09-2024&utm_source=email) TODAY'S INSIGHT Here’s How The Wealthy Have Been Investing Lately Russell Burns [Here’s How The Wealthy Have Been Investing Lately]( They say the world’s wealthiest look after the pennies, so the pounds look after themselves. So if you’re looking to [build your own fortune](, you could do a lot worse than consulting Citi Private Bank’s Global Family Office 2024 Survey. The results provide a [behind-the-scenes]( look at the investments of the very well-off, as well as their money managers’ current views on the financial markets. I’ve pulled together my [top takeaways]( and given my take, so you can see how the other half invest. [Read or listen to the Insight here]( * SPONSORED BY TiiCKER Your stocks could reward you more – but not the way you think Plain and simple returns are so last year. Now, shareholders can bag even more benefits. TiiCKER is all about promoting fan-first, brand-first public companies that dish out [exclusive perks to their shareholders – from cruise credits to free movie tickets – every single week](. Plus, you can use TiiCKER to [discover new brands]( that align with your values and financial goals (and your taste in perks, too). You’ll also find insights that go [deeper than stocks’ stats and figures](. The set up is simple: you just need to link your existing brokerage account to TiiCKER, and you’ll unlock perks from the stocks you’re already invested in. Plus, if you [connect a portfolio with at least $100 worth of holdings, you’ll get an $11 gift card](. Call it your first perk: [you can download the app here to get started](. [Discover More]( When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( Selling Sunset [Selling Sunset] What’s going on here? China’s main stock index [ticked]( up by 4%, after the country’s leaders seemed to finally take its real estate crisis seriously. What does this mean? China’s head honchos announced they’ll be dishing out support for property developers and homeowners after a surprise meeting on Thursday. That marks the first time the problematic property market has been targeted specifically by the country’s Politburo – its top officials – since the troubles started in 2020, even though it’s been one of China’s biggest economic problems for years. You can see why they felt the urge: recent data suggested that China’s economy would miss its 5% growth target this year. Why should I care? For markets: Many hands make light work. China’s central bank had already [announced]( plenty of policy changes on Tuesday, including lower interest rates. Economists didn’t think that’d cut it, though, saying the economy would also need fiscal support – think cash handouts – to get folk spending. And in what seems to be a coordinated approach, the Chinese government duly greenlit such measures on Thursday. Markets seemed to approve of the one-two: China’s main index picked up around 4% after the news, while related property stocks in Hong Kong jumped an average of 12%. The bigger picture: Swings and roundabouts. One surprise bled into another this week. Both oil and copper prices usually pick up when it seems the Chinese economy is headed in the right direction – but on Thursday, the duo took off on different paths. Copper prices rallied, as China accounts for nearly half of the metal’s global demand, while the slippery stuff fell for a second day. That’s because Saudi Arabia, the world’s second-biggest oil supplier, was reported to be considering increasing its output in December. And thanks to the classic rule of supply and demand, that’s put oil’s price on the slide since. You might also like: [How to invest in China now](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Selling Sunset&utm_campaign=daily-global-27-09-2024&utm_source=email) QUOTE OF THE DAY "Let us remember: One book, one pen, one child, and one teacher can change the world." – Malala Yousafzai (a Pakistani female education activist) [Tweet this]( 💡 We'd look good together Our [million-strong community]( is filled with active, switched-on investors, constantly looking for tips and tricks that will help them increase their net worth. So if you’re looking to [promote a finance-related product or service](, find out how we might pair up in a partnership you can bet on. [Drop us a line](. [Get Your Name Out There]( 🎯 On Our Radar 1. Finding your own system. Top tips for [neurodivergent chefs](. 2. Talk about being “in the money”. [Get the lingo down]( before you trade options. 3. Like every other word. A look at why we say ["like" so much](. 4. There’s value to be found in the NFT market. [Three key factors]( can help you separate the best deals from the rest.* 5. Monkey see, monkey do. Scientists are using macaques to [predict the US election](. When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🤩 Grab your tickets... 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