ources tell Bloomberg that OpenAI is discussing giving CEO Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business. The company is considering becoming a public benefit corporation, tasked with turning a profit and also helping society, said the people, who asked not to be identified because the information is private. The transition is still under discussion and a timeline has not been determined, one of the people said. Meanwhile, China is considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to support the struggling economy, according to people familiar with the matter. Sources say the funding will mainly come from the issuance of new special sovereign bonds.
Today’s guests: Mark Haefele, UBS Global Wealth Mgmt CIO; Joseph Davis, Vanguard Chief Economist
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse with Francine Lacqua
00:00:41 – Mark Haefele, UBS Global Wealth Mgmt, CIO
00:04:24 – Commerzbank will have first meeting with UnicCredit tomorrow
00:04:50 – OpenAI discussing CEO Sam Altman 7% stake
00:06:06 – OpenAI mulls major changes to become for-profit
00:09:41 – SNB cuts rates by 25bps as expected
00:11:38 – Joe Davis, Vanguard, Chief Economist
00:19:45 – Headlines
00:20:49 – Bloomberg Intelligence analysis on potential change at OpenAI
00:23:44 – Commerzbank CEO comment on UniCredit M&A discussions
00:28:42 – US, EU, allies propose Lebanon truce plan
00:33:29 – Israel figher jets strike Hezbollah targets in Lebanon
00:38:17 – StanChart CEO on European banking activity
00:40:05 – Sodexo sinks as it explores acquisition of Aramark
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