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A 7-year-old rivalry between tech leaders Elon Musk and Sam Altman over who should run OpenAI and prevent an artificial intelligence "dictatorship" is now heading to a federal judge as Musk seeks to halt the ChatGPT maker's ongoing shift into a for-profit company. Musk, an early OpenAI investor and board member, sued the artificial intelligence company earlier this year alleging it had betrayed its founding aims as a nonprofit research lab benefiting the public good rather than pursuing profits. Musk has since escalated the dispute, adding new claims and asking for a court order that would stop OpenAI’s plans to convert itself into a for-profit business more fully. The world's richest man, whose companies include Tesla, SpaceX and social media platform X, last year started his own rival AI company, xAI. Musk says it faces unfair competition from OpenAI and its close business partner Microsoft, which has supplied the huge computing resources needed to build AI systems such as ChatGPT. “OpenAI and Microsoft together exploiting Musk’s donations so they can build a for-profit monopoly, one now specifically targeting xAI, is just too much,” says Musk's filing that alleges the companies are violating the terms of Musk’s foundational contributions to the charity. OpenAI is filing a response Friday opposing Musk’s requested order, saying it would cripple OpenAI’s business and mission to the advantage of Musk and his own AI company. A hearing is set for January before U.S. District Judge Yvonne Gonzalez Rogers in Oakland. At the heart of the dispute is a 2017 internal power struggle at the fledgling startup that led to Altman becoming OpenAI's CEO. Musk also sought to be CEO and in an email outlined a plan where he would “unequivocally have initial control of the company” but said that would be temporary. He grew frustrated after two other OpenAI co-founders said he would hold too much power as a major shareholder and chief executive if the startup succeeded in its goal to achieve better-than-human AI known as artificial general intelligence , or AGI. Musk has long voiced concerns about how advanced forms of AI could threaten humanity. “The current structure provides you with a path where you end up with unilateral absolute control over the AGI," said a 2017 email to Musk from co-founders Ilya Sutskever and Greg Brockman. “You stated that you don't want to control the final AGI, but during this negotiation, you've shown to us that absolute control is extremely important to you.” In the same email, titled “Honest Thoughts,” Sutskever and Brockman also voiced concerns about Altman's desire to be CEO and whether he was motivated by “political goals.” Altman eventually succeeded in becoming CEO, and has remained so except for a period last year when he was fired and then reinstated days later after the board that ousted him was replaced. OpenAI published the messages Friday in a blog post meant to show its side of the story, particularly Musk's early support for the idea of making OpenAI a for-profit business so it could raise money for the hardware and computer power that AI needs. It was Musk, through his wealth manager Jared Birchall, who first registered “Open Artificial Technologies Technologies, Inc.”, a public benefit corporation, in September 2017. Then came the “Honest Thoughts” email that Musk described as the “final straw.” “Either go do something on your own or continue with OpenAI as a nonprofit,” Musk wrote back. OpenAI said Musk later proposed merging the startup into Tesla before resigning as the co-chair of OpenAI's board in early 2018. Musk didn't immediately respond to emailed requests for comment sent to his companies Friday. Asked about his frayed relationship with Musk at a New York Times conference last week, Altman said he felt “tremendously sad” but also characterized Musk’s legal fight as one about business competition. “He’s a competitor and we’re doing well,” Altman said. He also said at the conference that he is “not that worried” about the Tesla CEO’s influence with President-elect Donald Trump. OpenAI said Friday that Altman plans to make a $1 million personal donation to Trump’s inauguration fund, joining a number of tech companies and executives who are working to improve their relationships with the incoming administration. —————————— The Associated Press and OpenAI have a licensing and technology agreement allowing OpenAI access to part of the AP’s text archives.Top 8 Software Development Technologies to Consider in 2025
Bitcoin’s BTC/USD sell-off on Friday saw prices dip below $93,000, but Bitwise CIO Matt Hougan argues that the current pullback is a “hiccup” rather than a trend reversal. Hougan sees strong underlying factors including regulatory tailwinds , institutional adoption and Bitcoin purchases by governments as structurally bullish factors for Bitcoin. Crypto’s Turbulent Friday Trading Session The cryptocurrency market experienced a volatile session Friday, triggered by the Federal Reserve’s decision to lower its anticipated rate cuts for the coming year. Bitcoin plummeted from a high of $108,135 to below $92,805, before rebounding slightly, currently trading around $96,950, down 1.2% on the day. Ethereum ETH/USD also traded down by 1% to $3,430. This sharp decline mirrored a broader pullback in risk assets , with the S&P 500 dropping 3% and the Russell 2000 Small Cap Index falling 4.4% following the Fed announcement. The Fed’s move, while expected in terms of a 25 basis point rate cut , surprised markets with its reduced forecast for future cuts. It is now projecting only two in 2025, down from four. Also Read: Rattled ‘Hawk Tuah Girl’ Haliey Welch Resurfaces After Meme Coin Scandal: ‘I Take This Situation Extremely Seriously’ The Fed Matters For Crypto — But Other Factors Matter More Potentially higher interest rates traditionally pressure risk assets, and this announcement initiated an initial sell-off across the board, Matt Hougan noted in a social media thread earlier in the day. However, he emphasized that leverage within the crypto market acted as a significant catalyst for the deeper-than-expected decline. Hougan maintains that the broader bull market trend remains intact — $1.38 billion of liquidated positions in 24 hours notwithstanding. He claims the Fed is less impactful to the sector than in previous years, and the industry has gained significant internal momentum due to several fundamental shifts. He points to several key factors supporting the bullish thesis: An imminent pro-crypto regulatory shift in Washington, see Trump’s appointment of a ‘ crypto czar .’ Increasing institutional involvement and ETF flows, such as record-breaking spot ETF flows . Bitcoin acquisitions by governments and corporations — even a strategic Bitcoin reserve may be on the table. Major technological advancements in the programmable blockchain sector ( tokenization anyone ?). In a series of tweets , Hougan also highlighted that Bitcoin’s 10-day exponential moving average (approximately $102,000) remains above its 20-day exponential moving average (around $99,000), which is a traditional bullish indicator for him. This technical measure has historically been a reliable gauge of market trends and suggests the medium term trend for Bitcoin, despite the volatility, is still positive. What Technical Indicators Are Saying According to James Toledano , Chief Operating Officer at Unity Wallet , “Profit taking is definitely at play here, with Bitcoin trading volume rising 24% in the last day and Bitcoin ETF outflows hitting a record $672M in 1 day.” This shows recent price volatility is not solely attributable to external influences, but internal to the market as well. “Many people who invested earlier in the year will have doubled their money and those who invested years ago, made more than they ever dreamt possible,” he told Benzinga. Toledano also noted that whilst Bitcoin trading volume is skewed towards selling, altcoins have been subject to significant trading activity. Ethereum trading volume is up 45% over 24 hours, with 70% of that buying activity. XRP XRP/USD , currently up 1% on the day and recovering from a 20% drop earlier in the day, is seeing a similar volume pattern. BNB BNB/USD is also up 1.3% at $670. However, Dogecoin DOGE/USD is down 1% and Shiba Inu SHIB/USD down about 5% , hile SUI SUI/USD is up 7% at press time. While reduced liquidity in the upcoming holiday period could lead to increased volatility, Toledano added, the absence of major institutional activity may stabilize prices. He also pointed out that, based on historic trends, there is no clear pattern at this time of the year. Read Next: Are MicroStrategy’s Bitcoin Purchases On Hold In January? Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.What a year! Tour operators share their standout moments from 2024Own a piece of history: Commemorative Trump election cover plaque now available
FARGO, N.D. (AP) — Jacksen Moni's 25 points helped North Dakota State defeat Wisconsin-Stout 91-62 on Friday for its sixth straight win. Moni shot 9 for 13 (4 for 6 from 3-point range) and 3 of 4 from the free-throw line for the Bison (9-4). Treyson Anderson scored eight points and added seven rebounds. Darik Dissette shot 3 of 3 from the field to finish with eight points. Carson Hoffman led the Blue Devils in scoring, finishing with 11 points. Justin Nelson added nine points and Dominic Croci recorded eight points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
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Samsung Galaxy S25 Ultra Release Date LeaksAffirm Holdings president Michalek sells $12.3 million in stockShares of Cidara Therapeutics, Inc. ( NASDAQ:CDTX – Get Free Report ) have been given an average recommendation of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $32.20. A number of analysts have commented on CDTX shares. StockNews.com lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Guggenheim started coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 target price on the stock. WBB Securities raised their price target on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada initiated coverage on Cidara Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $34.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $24.00 target price on shares of Cidara Therapeutics in a report on Monday, November 11th. View Our Latest Report on Cidara Therapeutics Hedge Funds Weigh In On Cidara Therapeutics Cidara Therapeutics Stock Performance CDTX stock opened at $23.69 on Friday. The company has a market cap of $166.94 million, a P/E ratio of -0.93 and a beta of 1.13. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $24.99. The stock’s 50 day simple moving average is $17.39 and its 200 day simple moving average is $13.79. About Cidara Therapeutics ( Get Free Report Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates. Featured Articles Receive News & Ratings for Cidara Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cidara Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter .
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