Investing Koala

Top stories today:

1. OpenAI’s former Superalignment co-lead explains leaving

2. Sam Altman apologizes for contracts not allowing criticism

3. Nvidia…AGAIN

4. Macquarie Bank

5. The Sphere

OpenAI’s former Superalignment co-lead explains leaving, as company vows to do more

Jan Leike explained that he left OpenAI due to disagreements on priorization of safety research:

OpenAI COO Greg Brockman vowed to do more for AI safety, without any specifics

Sam Altman apologizes for contracts not allowing former employees to criticize the company

• Former employees can lose 100% of their vested equity if they criticize the company, under OpenAI’s current contracts.

• Altman said the contract is being changed to remove these features, including for former employees.

• Relatedly, OpenAI removed the ‘Sky’ voice in ChatGPT that users said sounded like Scarlett Johansson.

Nvidia

NVIDIA logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration

And that's with good reason - the chipmaking giant's revenue is expected to have more than trebled to $24.8 billion from $7.2 billion a year earlier, with earnings per share soaring to $5.57 from $1.09, according to LSEG data.

As a curious taster on Friday, Advanced Micro Devices gained more than 1% as Microsoft said it plans to offer its cloud computing customers a platform of AMD AI chips that will compete with components made by Nvidia.

Reddit, meantime, rose 10% following a partnership with OpenAI to bring its content to ChatGPT.

Macquarie Bank goes cashless from today. Here's how it will affect customers

People who still prefer to do their banking in-person will have to learn how to do everything online.

Macquarie Bank's transition to being a digital-only financial institution ramps up a notch today as customers won't be able to complete over-the-counter services from its offices anymore. The fast-growing bank kicked off its transition earlier this year and will complete it in November.

From today, customers can't withdraw and deposit cash from the bank's three branches and will have to switch to digital-only payments, which Macquarie said is the preferred method for 99 per cent of its users. The move prompted outrage from some Aussies, with one telling Yahoo Finance banks shouldn't be forcing customers "into electronic, let alone electronic-only, banking or transaction services".

Additionally, depositing or collecting cheques and ordering new chequebooks won't be available from today.

Source: Yahoo Finance

The Sphere

PS: Stay Obessed with your Freedom, cause the first person to believe in you has to be yourself

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