its growth targets on track. welcome to business today, i'm tadgh enright a big shake up is underway at openai — the company behind chatgpt which is at the forefront of the artificial intelligence revolution. it's reportedly planning to abandon the not—for—profit status of its core business in a move that the financial newswire reuters reports, is designed to make it more attractive to investors. the finer details of the shake up have not been confirmed but leadership changes have already been announced with its chief technology officer abruptly resigning late on wednesday. its chief executive sam altman would also receive a stake in the company for the first time, which could be worth as much as $150bn. yonah welker is a technologist and algorithm expert.

thank you forjoining us. why are they doing this? thank you so much. first of all, all of the things about models was a big promise about the impact and scalability and universal approach. you can use purpose ai for different applications. now, it is time to show the economic return. they need more control of their assets and infrastructure and data capacity in order to deal with the next round. it is $6.5 billion. it is $150 billion valuation. it is not easy to understand that technologies commoditised... the price of chatgpt is 3.5... now, it is 2% of the price it was in 2022 when this model was leading. there is much more competition including language models and

smaller language models, and local solutions and companies. does it raise questions about the ethical approach of 0penai? they always said that they wanted to avoid the mistakes that were made with the social media revolution. it is... does becoming a for—profit company jeopardise that? you becoming a for-profit company jeopardise that?— jeopardise that? you know, i had the opportunity - jeopardise that? you know, i had the opportunity to - jeopardise that? you know, i had the opportunity to at - jeopardise that? you know, i had the opportunity to at the j had the opportunity to at the european commission look at the size and power of 0penai. 0penai is a big veggie apple driven company and it doesn't really matter if they have some kind of psg or not—for—profit element about this. the thing that they try to bring is to become the gatekeeper, the platform of the marketplace. 0penai would love to become more economically sustainable after all of this venture rounds. 0n after all of this venture rounds. on one hand, they bring to market all of this cutting—edge multi—model and

multi—model ai models with their 175 billion parameters. this is in order to be out of competition, because smaller companies just cannot produce such technology. at the same time, there would love to be having a platform for other products and solutions. but, in this place they actually collide among government and ai act. . ~' , ., , collide among government and ai act. ., ~ , ., , . collide among government and ai act. . ~' i” , . ., act. thank you very much for “oininu act. thank you very much for joining us — act. thank you very much for joining us with _ act. thank you very much for joining us with your- act. thank you very much for joining us with your thoughts today. the snp 500 has had a record high. china isn't the only reason better than expected unemployment has eased concerns about the us economy. another big name in the tech sector is micron technology, which has raised its revenue forecast, suggesting demand for computer memory is being further boosted by ai, which is what we were talking aboutjust a moment ago. now let us speak

to our north america correspondent, michelle fleury, give us more insight into why us and european markets and asian markets in their session on wednesday have been climbing so healthily. on wednesday have been climbing so healthily-— so healthily. look, ithink that what— so healthily. look, ithink that what is _ so healthily. look, ithink that what is going - so healthily. look, ithink that what is going on - so healthily. look, ithink that what is going on in l so healthily. look, i think. that what is going on in the usa right now when it comes to the economy is that consumers are increasingly concerned about the jobs market. are increasingly concerned about thejobs market. they are increasingly concerned about the jobs market. they are shifting their attention a little bit away from high prices, although that still remains a big issue if you talk to people, and we got daters a day that showed that despite those concerns and worries aboutjob those concerns and worries about job security, those concerns and worries aboutjob security, the economy is still expanding. the latest revision of gdp showed a 3% annual growth, and suggestions that, while apple is doing well in the spring, it looks set to continue into the third quarter as well. separately, there was data on the number of americans claiming unemployment benefits. the figure for last week was 218,000 americans claiming it.

that was nearly a four month low. so, employers, it seems, are still holding onto staff and keeping jobs open at the moment despite a sort of cooling, if you like, a slight cooling, if you like, a slight cooling of the economy. none of that feeds into the idea that a soft landing is taking place where the federal reserve was able to tame inflation without tipping into... without causing too much pain in the economy. and sectoral news of boosting stocks today. tell us more about micron technologies and how it is having earnings which are giving the tech sector reasons to be cheerful. we cannot go _ reasons to be cheerful. we cannot go a _ reasons to be cheerful. we cannot go a day _ reasons to be cheerful. - cannot go a day on the markets without talking about al. that really is at play here. micron is a chip maker. the chips are being used increasingly in products tied to that. that really has benefited the company. when it came out with the results they were better—than—expected and that

boosted the share price up 14% to levels that hasn't been seen at for a while. i think it feeds into the narrative of tech stocks continuing to lift, certainly, the nasdaq. we saw in the video, yesterday, another chip—maker darling trending higher. another chip-maker darling trending higher.— another chip-maker darling trending higher. now, we head back to anita _ trending higher. now, we head back to anita for _ trending higher. now, we head back to anita for breaking - back to anita for breaking news. studio: we are taking you to new york where after a number of charges have been brought against the new york city may, this is the district attorney office and we are hearing from him and from the assistant fbi investigator in charge and also from the commission at the department of investigations. let's listen in. some flash photography, i should warn you, is expected. photography, i should warn you, is mooted-— is expected. flights and document _ is expected. flights and document ring - is expected. flights and document ring opulent. is expected. flights and - document ring opulent hotel rooms in foreign cities. the mayor had a duty to expose

these gifts on an annual performance of the public could see he was giving him what. as we allege, year after year after year, we allege, year after year afteryear, he we allege, year after year after year, he kept the public in the dark. he told the public he received no gifts, even though he was secretly being showered with them. we allege that adams accepted these knowing that they were given to him because of his position. he intervened in the new york city fire department's inspection process for a building owned and operated by the turkish government. that allowed it to wait and even though it hadn't passed fire inspection. the corruption allege it in the indictment is, as i said, long running. as we allege in the indictment, the solicitation of an illegal campaign... began in 2018 after he began raising funds for the 2021 campaign, he agreed to take contributions offered by multiple turkish businessmen. several of those

he met in turkey. adams knew these are the individuals couldn't legally donate in a us election. the federal law clearly prohibits foreign donations. that is how we protect our allege legends drew elections from foreign influence. adams directed his staff to pursue the illegal money and to support his campaign. as we allege, adams continued to pursue foreign money in secret well into 2021. it didn't stop with his first campaign for mayor. as we allege, in 2023, the mayor rekindled these corrupt relationships, seeking more illegal campaign contributions from some of the same foreign sources to support his election campaign. there are contributions that broke other laws. as we allege, he saw contributions from businessmen far in excess of what the law allowed. there were also contributions from corporations not allowed at all in new york

city elections. many of these illegal corporate contributions were organised by the same people who organised the illegal foreign contributions. adams allegedly disguised them all in the same way by accepting a monetary so—called straw donors. straw donors contribute somebody else's money, hiding the illegal source, such as a foreign businessman, corporation, ora businessman, corporation, or a wealthy businessman, corporation, ora wealthy new yorker already contributing the maximum amount allowed. as we allege, adams circumvented all of these laws, taking contributions from exactly the sources that the law prohibits, all of the benefit for his mayoral campaigns. now, adams also personally benefited from the illegal conduct allege it in the indictment. he solicited and accepted a $1000 in luxury travel benefits for years from wealthy turkish businesspeople and at least one turkish government official seeking to gain influence over here. he started accepting undisclosed luxury travel benefits as early

as 2016. he took these benefits nearly a year through 2021. here are some of the benefits we uncovered during our investigation. in 2016, adams flew to india, flew to turkey, and received two free round—trip upgrades for business class seats on the highest class in turkey's national airline. those upgrades were worth more than $12,000 and none of it was publicly disclosed. and he groaned at 17 he accepted for business class fare itself and companions... he was put on the hotel in istanbul, all of that was worth more than $41,000. none of it was publicly disclosed. in 2017, he flew to china. again, through turkey, and accepted free business class tickets himself and companion. those were worth more than $16,000 and none of

it was publicly disclosed. 2018, he flew to hungary through turkey and accepted free upgrades from business class seats. those were worth more than $12,000 and none of it was publicly disclosed. in 2019, he flew to turkey and accepted a free upgrade to business class fares companion and a free say in a lavish suite at the hotel and assemble worth more to make more than $9,000. again, none of it was publicly disclosed. in 2021, he solicited business class tickets to istanbul, says that luxury hotels and resorts, yacht tours and meals. as we allege, he asked to pay a nominalfee for all of allege, he asked to pay a nominal fee for all of this in order to disguise what we allege were in fact bribes. he cancelled that trip at the last minute, but the benefits he solicited were worth over $21,000. later, in 2021, he flew to ghana, again through turkey, and accepted free business class ticket while on

a layover in istanbul. those benefits were worth over $12,000 unlike the other benefits we have run through, none of it was publicly disclosed. i want to be clear, these upgrades and freebies were not part of some frequent flyer or loyalty programme available to the general public. as we allege, this was a multi—year scheme to buy favour with a simple new york city politician on the rise. eric adams. this is a chart with all of the undisclosed travel benefits that we uncovered during the investigation. we listed those out here. you can see the year, 2016-2017, 2018, 2019, and 2021. the destination, india all the way to ghana, the benefits: the free upgrades and free tickets altogether, the hotel says, and the value. if you sum up all of the dollar

amount here, you get to over $100,000. as i said before, every single trip we list here was undisclosed. as we allege in the indictment, in addition to not disclosing these benefits, adams sometimes created fake paper trails to try to cover up the travel benefits he solicited and received. let me give you an example. adams wrote e—mails to his staff suggesting he paid his staff suggesting he paid his 2017 business class flights on the turkish airline when, we allege, he did not. those flights were worth a lot of money. on deck and loan cost over $10,000. the month after taking on the flight he wrote an e—mail to a staff member, telling them he left cash in her desk drawer and that she should send the money to the turkish airline to pay for the trip he had already taken. the indictment makes clear that thatis indictment makes clear that that is a clumsy cover—up. just

because adams received benefits for free doesn't mean that there were not strings attached. as we allege, a particular turkish government official behind many of the benefits adams saw an accepted gave adams all of these things to gain influence over him. we allege adams knew that and took the benefits anyway. we allege that when the turkish government official needed him, adams also took corrupt official action in exchange for some of the luxury travel benefits. in 2021, the turkish german division was trying to open a brand—new high—rise building in manhattan that would house the turkish consulate. there were significant time pressures because the turkish official desperately needed the building to be open in time for a visit from the turkish president. the building was important to the turkish visual and to turkey, but the fire safety professionals wouldn't let the building a bean because it hadn't passed an inspection. and not only that, some of the people at ft ny, the building had so many defects that the

building wasn't safe to occupy. the turkish official sent word to adams that it was: his turn to adams that it was: his turn to support turkey. we allege that adams delivered. he pressured the fire department to open, allegedly. they were convinced that they would lose their job convinced that they would lose theirjob if they didn't back down, so they did. they got it out of the way and left the building open. the turkey official, he wanted, and as we explained in the indictment, four days after adams held up his end of the bargain, he went right back to soliciting more travel benefits from the turkish airline. i want to three things crystal clear. firstly, the conduct alleged in the indictment, the foreign money, the corporate money, the bribery, the years of concealment, is a grave breach of public trust. public office is a privilege, and we allege that eric adams broke the law

and abuse that privilege. the law