Top stories today:
- Elon Musk files for injunction to halt OpenAI’s for-profit transition
- Black Friday sales +5% to $74.4B, with U.S. hitting record $10.8B
- Michael Saylor pitches BTC to Microsoft in 3-minute presentation
- BTC ETFs now hold 1M+ of tokens, 5% of total supply
- Hyperliquid’s newly launched HYPE token +134% after $1B airdrop
- Meta’s Libra killed by Janet Yellen, exec alleges
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of the few hallucinations):
1. Elon Musk files for injunction to halt OpenAI’s for-profit transition
Microsoft and several OpenAI co-founders are named in the preliminary injunction.
“Irreparable harm” if the injunction isn’t granted, Musk’s attorneys said.
“Continuous to be utterly without merit,” OpenAI said in response to the lawsuit.
Relatedly, OpenAI has planned data centers in the U.S. Midwest and Southwest.
1B users target for 2025.
Not “close to breaking even.”
3. Black Friday global online sales +5% to $74.4B, with U.S. hitting record $10.8B
$74.4B vs. $70.9B in 2023, Salesforce estimated.
+10.2% in the U.S. online spending on Black Friday, Adobe said.
Mobile devices represented 55% of all online spend.
+1,800% in GenAI chatbot-driven traffic to retail sites.
Cyber Monday deals are likely to garner similar traction on Mon.
