fiona cincotta from city index told us about the scramble to get in on the deal.f demand and thatis there was a lot of demand and that is basically because openai has been expected to lead the next wave of generative ai. lead the next wave of generative al. the expectations are for revenue to almost triple next year. £211.5 billion, from 3 billion at the moment. this is a stock that is expected to be at the foundations of the next level of generative ai. because of that, there was really strong demand, and as a result there was some very secular arrangements —— particular arrangements —— particular arrangements to the deal for funding. there were requirements for exclusivity and this wasn't mentioned as being done on a convertible space, that is meaning be conversion to equity is hinging on the successful structural change from that for—profit, into a profit making organisation from the nonprofit organisation from the nonprofit organisation it is currently. to the world's richest man now — elon musk. the multi—billionaire owner of tesla and spacex is due to testif

fiona cincotta from city index told us there was a scramble to get in on the deal.demand. that is basically because openai is expected to lead the next wave of generative ai. the expectations are for revenue to almost triple next year to $11.5 billion, from its roughly $3 billion level at the moment. so this is the stuff that is really expected to be at the foundations of the next level of generative ai. because of that, there was really strong demand and, as a result, there was also very particular arrangements to the deal for funding. for example, there were requirements for exclusivity, and this as you also mentioned, was done on a convertible notes basis. so basically, that conversion to equity is very much hinging on this successful structural change from that for profit, sorry, into a for—profit organisation from the nonprofit organisation that it is at the moment. to the world's richest man now — elon musk. the multi—billionaire owner of tesla and spacex is due to testify today before the us financial watchdog, the sec, over his 44 billion dollar buyout of tw

fiona cincotta, financial markets analyst at cityindex, said that the surprise fall in the rate of uk prompt the bank of england to lower interest rates next month. so the bank of england is set to meet in november, and the expectation is that they will cut interest rates by 25 basis points. that will be after a 25 basis point reduction we saw in august. and there is also a possibility that the bank of england could cut rates by a further 25 basis points in december. so if we just think back to the beginning of this month, bank of england governor andrew bailey said that the central bank could be more activist. it could act more aggressively with cutting interest rates if inflation data allowed it to do so. so, and i think this inflation data is definitely a step in the right direction for the bank of england to be able to do that. so we could be looking at a further two rate cuts this year. so, how might the fall in inflation affect the budget in two weeks�* time? here's our chief political correspondent henry zeffman. a notably cautious response to those inflation statistics from th

fiona cincotta is from city index. to the world's richest man now, elon musk.. i imagine he will not be happy at all to hear about openai wanting exclusive relationships that could impact his ambitions in this area. the multi—billionaire owner of tesla and spacex is due to testify today to the us financial watchdog, the sec, over his $44 billion buyout of twitter, now called x. mr musk was due to testify back in september but failed to show up. meanwhile, tesla shares closed over 3% down on tuesday on the back of its latest vehicle delivery numbers. —— on wednesday. they were up in the three months to september compared to last year, but fell short of market expectations. however, tesla retained its position as the world's top ev maker, above china's byd. which is constantly snapping at its heels. nishit madlani is managing director of autos, business and technology at s&p global ratings. good to see you. another busy week for elon musk, he is really out of the headlines. if we start with his grilling about the acquisition of twitter, now known as x, what do yo

joining me now is fiona cincotta, senior market analyst at city index. they might have to foot the bill?— foot the bill? i think it's a treat foot the bill? i think it's a great question. _ foot the bill? i think it's a great question. we - foot the bill? i think it's a great question. we do . foot the bill? i think it's a i great question. we do know foot the bill? i think it's a - great question. we do know that there needs to be a black hole filled, it does look like taxes are going to be forming the centrepiece of that, to protect government department and build a buffer. different businesses are coming across with different responses. if this is the lesser of what could be much worse evils, but still a tax increase is a tax increase and it does put a burden on businesses. there is a very fine line that the chancellor will have to walk, because if you overburden businesses, that's going to have a detrimental effect on the economy obviously. 0ur detrimental effect on the economy obviously. our economy in the uk is made up by a lot of small businesses