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GPT-4 Turbo, lower prices, custom GPTs announced at OpenAI's DevDay

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Top stories today:

  1. GPT-4 Turbo, lower prices, custom GPTs announced
  2. WeWork files for bankruptcy in U.S., Canada
  3. SpaceX's revenue expected at $9B in 2023, $15B in 2024
  4. Israel may take security responsibility of Gaza post-war

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0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. GPT-4 Turbo, lower prices, custom GPTs announced at OpenAI's DevDay

Pricing for OpenAI's APIs was cut across the board:

GPT Builder allows anyone to create their own chatbots

A GPT App Store will be available soon, and creators will get paid everytime someone uses their GPT

Our view: OpenAI is killing startups and expanding its moat

  • Like Apple, OpenAI is launching features and killing startups at the same time. Be careful building products that are mere features of OpenAI's products.

  • The GPT App Store brings further gains of scale/networks effects to ChatGPT, enhancing OpenAI's moat over its competitors.

Watch OpenAI's DevDay Keynote

2. WeWork files for bankruptcy in U.S., Canada

Once valued at $47B, the stock was -99.8% from its 2021 high, before being halted:

WeWork had been trying to reduce leases, but never managed to reach profitability

  • Sportradar gathered marketing leaders from companies including FanDuel, Meta, SNAP, and the NHL to share and exchange ideas at the Sportradar Connect US ad:s Summit.

  • Enjoy three insight-packed sessions centered around Omnichannel Marketing, Paid Social, and Sponsorships from the Sportradar Connect: US ad:s Summit and explore the hot topics of advertising and marketing in the sports industry.

  • The Sportradar Connect US ad:s Summit is now available for the first time ever on-demand. Watch now to uncover the latest sports marketing solutions. - Sportradar

*Sponsored.

4. SpaceX's revenue expected at $9B in 2023, $15B in 2024

5. Israel may take security responsibility of Gaza post-war, says Netanyahu, as Gaza City surrounding continues

6. Interesting videos, posts, and memes

7. Other headlines

AI

  • Intel in lead to receive $3B-$4B for Chips Act microchips facilities.

  • YouTube will test AI comment summarizer, conversational tool.

  • GM halts production of Cruise driverless van.

  • Meta bars political advertisers from using gen AI ads tools.

  • Flipkart founder to launch AI-as-a-service startup.

  • Aleph Alpha raising $500M Series B from Lidl owner, others.

Tech

  • Shein targets $90B valuation in U.S. IPO.

  • Replit receives $20M investment from Craft Ventures.

  • Instagram crosses 1M paid subscriptions to creators.

  • Bumble CEO Whitney Herd to step down, replaced by Slack CEO.

  • X CEO Yaccarino goes after video deals with NFL, NBA, others.

  • iMac 27” not in plans for Apple.

  • Klarna revenue +30% to $0.55B in Q3.

  • Sportradar: NBA player tracking measures usage like never before.*

  • Sidebar is a leadership program that accelerates your career.*

*Sponsored.

Tech & law

  • Airbnb gets $835M seized by Italy for allegedly not paying taxes.

  • Epic v. Google: 1st day of trial.

Biotech

  • Longevity: WaPo profiles the industry.

  • Marijuana use correlated with heart attack, failure.

  • Neuralink: a detailed look at Elon's brain implant startup.

  • Mogling Bio gets funding from Kizoo for CDC42 rejuvenation tech.

Business

  • Saudi Aramco's net profit -23% to $32.6B in Q3.

  • FOMC's Kashkari not convinced rate hikes are over.

  • China outspending U.S. in loans to other countries by 30%.

  • Music copyright globally +14% to $41.5B in 2022.

  • Citadel: 100K college applications for 300 positions.

Crypto

  • FTX may be relaunched with bid of Proof Group: sources.

  • BoE, FCA seek feedback on stablecoin regulation.

U.S. politics

  • Election day: what to watch for.

  • Senate GOP wants border security measures tied to Ukraine aid.

  • Trump testifies in NY fraud trial.

  • DOJ: Trump's belief that election was stolen not relevant.

  • Some Democrats worry about Trump's lead in polls.

World

  • China acquires global network of ports.

  • Putin to run in March 2024 presidential election with little opposition.

  • Zelensky: “irresponsible” to hold elections during wartime.

  • Plan B Passport: learn how you can obtain one.*

*Sponsored.

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