OpenAI Holding Back Astra, Oura Delays IPO, More
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What is the main topic discussed in this episode?
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Why is OpenAI holding back its Astra AI model after safety failures?
OpenAI is holding back a version of its Astra artificial intelligence model after it failed some safety evaluations. OpenAI has reported a series of security incidents in which its AI agents have breached outside systems, adding to broader concerns about AI slipping out of human control. Bloomberg's Ed Ludlow.
The release of GPT-6.1 Astra has been scrapped. In very simple terms, the model wouldn't reliably do what OpenAI had given it permission to do. And so on safety grounds, they won't release it.
Bloomberg's Ed Ludlow, OpenAI described safety cases for AI training aimed at documenting risks around new models and is working to codify a framework with safeguards, including senior leaders' ability to veto some activities. OpenAI's annual recurring revenue is reportedly closing in on $70 billion. Axios reports OpenAI's enterprise sales more than doubled in July. The growth comes as OpenAI and Anthropic prepare for IPOs, which would give investors the clearest look yet at both the revenue opportunity and extraordinary spending driving their growth.
Why has Oura delayed its IPO despite strong investor demand?
Smart ringmaker Oura is the latest company to delay its initial public offering, citing uncertainty in the market for first-time share sales. CEO Tom Hale says they have the luxury of, quote, choosing our moment, and that the business has gotten stronger since the start of the IPO process. Oura and its backers were looking to raise as much as $2.2 billion in the IPO today. which had drawn about four times as many orders as there were shares available.
How are rising oil prices, bond yields, and weaker economic data affecting markets?
Oil prices are lower as Saudi Arabia has resumed flows through a key pipeline, WTI at $91 a barrel and Brent crude at $104 a barrel. But that did not allay Wall Street concerns about higher inflation and Fed rate hikes. We check markets for you all day long here at Bloomberg. The S&P 500 is down a tenth of a percent. NASDAQ up about a tenth of a percent and the Dow is down four tenths of one percent. The 10 year Treasury yield is at 5.26 percent. The two year yield at 4.92 percent. and the 30-year Treasury yield now at 5.59%. Edward Yardeni is president at Yardeni Research. He says these bond yields could go even higher, and that there is some good news and bad news.
The good and the bad news is that the repricing in the bond market is occurring pretty rapidly. That hurts in the short term, but to the extent that we get to where... the terminal rate is for the bond yield, that will be helpful.
Edward Yardeni was on Bloomberg surveillance. Consumer confidence in the U.S. fell in September to its lowest level since 2014 as pessimism grows about the economy and the labor market. The conference board's gauge of confidence decreased 6.7 points to 81.9 after a downward revision to the prior month. The median estimate in a Bloomberg survey of economists was 89. An indicator of present conditions dropped nearly eight points, and a measure of expectations for the next six months also fell. Job openings also fell in August, suggesting employers grew more cautious about expanding their workforces toward the end of the summer, while layoffs remained low. The Bureau of Labor Statistics data show available positions fell to 7.1 million from 7.3 million in July.
Why is the Pentagon planning to cut general and admiral positions?
Secretary of Defense Pete Hegseth reportedly plans to cut 20 percent of the positions reserved for generals and admirals. Fox News reports Hegseth is expected to announce the plan in a State of the Force address tomorrow. Army, Navy, Air Force and the military's joint pool will be directed to execute the plans in full by January 1st.
How is Paramount financing its Warner Bros. Discovery acquisition?
Paramount Skydance has kicked off its long-awaited investment-grade bond sale, the largest of a syndicated $52 billion debt package for its acquisition of Warner Bros. Discovery.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:00–0:28
2
Why is OpenAI holding back its Astra AI model after safety failures?
0:28–1:37
3
Why has Oura delayed its IPO despite strong investor demand?
1:37–2:05
4
How are rising oil prices, bond yields, and weaker economic data affecting markets?
2:05–3:56
5
Why is the Pentagon planning to cut general and admiral positions?
3:56–4:16
6
How is Paramount financing its Warner Bros. Discovery acquisition?
4:16–4:48
7
Why are news organizations challenging Trump’s White House press restrictions?
4:48–6:11
Speakers
2 identifiedMore from Bloomberg News Now
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Healey's Fiscal Pitch, OpenAI Holds Back Astra Model, More