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Top stories today:
- OpenAI reverses course, keeps nonprofit in charge of for-profit entity
- Apple appeals ruling in Epic Gamesā case after lower court setback
- Trump raising millions from Mon.ās $1.5M-per-head crypto dinner
- OpenAI said to reach deal to buy Windsurf for $3B
- UNITY Bio lays off entire workforce, seeks āstrategic alternativesā
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 todayās newsletter (beware of hallucinations):
1. OpenAI reverses course, keeps nonprofit in charge of for-profit entity
The nonprofit will keep control and a major stake as the business arm becomes a public benefit corporation (PBC).
Dec. 2024: OpenAI announced the PBC would ārun and controlā its operations and business over time.
The nonprofit āwill hireā a team āto pursue charitable initiatives,ā the company had said.
Elon Musk and Encode were among many who opposed the earlier plan.
Microsoft is reportedly the biggest holdout in the new restructuring plan.
āWe continue to work closely with Microsoft,ā OpenAI said.
Over 365 million people worldwide suffer from osteoarthritis and there's still no cure, just painkillers and ice packs.
Cytonicsā CYT-108 is a lab-tweaked version of a natural protein (A2M) that blocks the enzymes that eat away at cartilage.
Backed by NIH grants and over 6,000 shareholders, Cytonics is now letting the public invest in its next clinical trial phase.
Itās a shot at finally treating the root cause of joint pain, not just managing it.
*Sponsored by Cytonics ($50,000 contracted). Prospective investors should review the offering materials for details, including all risk factors, before making an investment decision. Any investment involves significant risks, including the potential loss of the total investment. This advertisement is not an offer to sell or a solicitation of an offer to buy securities. This Reg A+ offering is made available through StartEngine Primary, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. Please read the offering circular before investing in Cytonics.
3. Apple appeals ruling in Epic Gamesā case after lower court setback
Representational image generated using OpenAIās ChatGPT.
Mon.: Apple filed a notice of appeal to the Ninth Circuit to challenge last weekās ruling.
The ruling blocks Apple from charging fees on purchases outside the App Store.
Apple was also referred to the federal prosecutor for a possible criminal probe.
