so, remember his reasons for going after openai, sam altman. likely to have broader implications for the a.i. race at large. we are early in this shift, and the winners now may not be the winners in a few years. so, the discovery part of mosques lawsuit, ultimately could alter the landscape, whether show sees internal emails from sam altman many others are trying to search for. or, issues with the openai structure, which was also has been talked a lot about. there's a lot that could come out of here. >> if you are sitting in sam altman's seat right now, what is the biggest concern you might have with this lawsuit? is it the discovery, or doesn't have the potential to actually have a meaningful impact in openai's progress? just as a not as a business, but as a technology that's out there? >> you know, it doesn't seem like sam altman is the kind of person to sweat a lot. remember, this is just one of many lawsuits. we're talking yesterday about the s.e.c. investigation. how it's subpoena-ing internal emails from that really tumultuous period back

in february 2023, he summoned sam altman toal twitter hea headquarters bring the founding documents. lot of openai as a non-prompt and now sam turned it into a for-prost. near end of my book there's a wonderful scene where elon musk asked me back to austin and we sit outside by a backyard and he said, i've got to start my own a.i. company, because this is a disaster, what's happening with openai. >> so for documents and memos seen from inside openai just this morning, all saying this is basically sour grapes from elon musk, because he's no longer involved. what would you say to that? >> well, certainly he has his back up. he's no longer involved. at that meeting i talked about, end of the book a year ago, altman says, do you want shares? want shares in openai? he says, no. musk says, ooimi'm not looking money. wanting to keep it so microsoft and google don't dominate the industry and he started his own a.i. company. i think musk does things because he's got a pretty strong passion for what he feels has to be done on a.i. so i would say calling it just sour grapes doesn't nearly get t

one of his complaints is sam altman exerted too much control over openai. let's look at tesla, elon musk exerts near total control over tesla. he is in an argument to get more control and has threatened to take his ai elsewhere if he cannot control it. it is good enough for elon musk but not good enough for openai. caroline: hypocrite versus hypocrite. ed, you heard from the other hypocrite. ed: i wrote to elon musk and asked him to join our program. i did speak to his lawyer who politely declined to give an interview or, the program. that is my question, we talked about elon musk's history of litigation. whatever his motivations are, i don't understand what the end result is. we know are looking at openai's model and people position ship with microsoft. the compute costs are high, they're commercializing as quickly as they can. what is muska going to try to get out of this? -- elon musk going to try to get out of this? max: i think the goal is to attack a competitor. he has a point here. there is something weird about the structure as we have been talking

elon musk filing suit against openai and ceo sam altman.ails just seconds away. >>> apple facing heat from investors. that stock down more than 6% since the beginning of the year. and this morning goldman removing it from its conviction buy list. we have a bull/bear debate on where shares could be headed. >>> and inflation taking a big bite out of what americans have to spend on food. a look into why food prices are remaining stubbornly high. the second hour of "squawk box" begins right now. >>> good morning, welcome back to "squawk box" right here on cnbc. we're live at the nasdaq market site in times square. let's show you the futures right now. 2 1/2 hours before the market's set to open. dow off about 40 points. we're looking at the s&p 500 off about 500 points. the nasdaq looking to open higher, about ten points. the two-year note at 4.591. we have been watching the rise of cryptocurrencies, bitcoin and ether in particular, but this morning down marginally, $6,945 on bitcoin. meanwhile, the big story of the morning is this, elon musk h

looking at the lawsuit, his legal team is suing on the grounds that sam altman abandoned that nonprofit$34 million of his own money to fund altman's efforts to develop ai for good. let's go to 2,019. open ai created a separate for profit arm funded by microsoft. that's which is a key driver in the suit. open ai has been transformed into a close source they facto subsidiary of the largest tech company in the world, microsoft. it is refining an agi to maximize profits for microsoft rather than for the benefit of humanity. the public firing of altman was an accusation. a nonprofit board, restored altman as ceo. musk is looking to recoup his money but he was co-chair of a nonprofit foundation. this wasn't a traditional investment with equity and donated through 2,020, that's well after opening i began the activities musk claims to be against. the breach of contract is going get to be hard to prove given he continue those donations and open ai could spend its for profit arm. no two ways of looking at this. elon musk is concerned about the direction open ai's taking but he has skin in the gam

sam altman is looking on what's needed to scale the technology.es he's backing when "power lunch" returns. welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ >>> welcome back to "power lunch." one side effect of the ai boom, the huge amount of power it takes to run these systems. that's a hot topic this week at the south by southwest

first, musk accused openai head sam altman of betraying his ideals. took $13 billion from microsoft, idea was to create an open project , a better and freely accessible model for everyone , as opposed to closed commercial projects of the corporation, well, first of all, in response, openai executives, including sam altman and ilya suskever, published a letter in which they stated that elon musk’s contribution was in the end, only 45 million dollars instead of the promised billion, and in general he tried to seize power in the project, then merge it with his company tesla, when he did not succeed, he slammed the door, and as for the money, as the research progressed, it became clear that the creation general-purpose artificial intelligence, this is significantly more expensive than expected , it is many billions every year... the far eastern railway launched modern new -generation commuter trains of russian design, russian railways replenished the region's railway fleet with four more trains that will run in primorye and khabarovsk. vera moroz spoke with the first passengers. suburban

things. >>> openai saying the law firm concluded the investigation into the events that led up to sam altman's ouster. there was a breakdown of trust with the board and altman. they did not anticipate the instability that followed. the concerns did not involve product safety or security or finances or statements to partners. sam altman will join the board and we will talk more about the story later in the hour. this is what you expected. they did not tell you more than what you already knew. >> like why. >> exactly. >>> elon musk posting on x that his startup xa.i. will open source grok. he unveiled it in november of last year. he sued openai and sam altman saying they broke the funding agreement and criticized them for not being open as in openai, the name of the company that he helped create. >>> nvidia has been sued by three authors who said it used copyrighted books without permission to train its a.i. platform. the works were part of the data set of 200,000 books to train the models to simulate written language before being taken down last october due to copyright infringements. the autho

stuart: what's your take on elon musk suing openai and sam altman?> you know, i think it's very interesting. i have to read up on this story because this just came can out, so i haven't really read up on it, but i think it's very interesting now that he's taking this tack. i've got to learn more about it. i'm not necessarily sure it's going to go anywhere because, quite honestly, i think we've lost control of that whole a. i. thing anyway. i think the do good for humanity, i think that's out the one doe.. -- window. do you think the rest are of the world is going to develop a.i. to do good for humanity? that's the scary part. i it's going to be interesting to see where the suit goes. stuart: and musk has an a.i. company which he's using to make tesla and his other companies more profitable. it's kind of a split decision here. he uses a.i. to make profit and then decries altman for making a profit out of a.i. it's kind of six of one, half a dozen of another. last word to you. >> well, it is, but i think he's using it to better his business, as are so

suing chatgpt parent company opened a.i. the ethics issues the billionaire says he has with ceo sam altman sierra, a live look for you here at i-80 at soda springs. this is part of the portion of i-80 that is closed westbound traffic is being turned around at the nevada state line. eastbound i-80 traffic is being turned around at drum for bay. chp says this is all due to spinouts, high winds, low visibility, and it is just a mess up there. and really, this is a 65 mile stretch that is now shut down to all traffic on interstate 80. basically if you do not need to be on the roads at all, turn around and avoid this area at all costs and there is no estimated time of reopening the freeway. this happened at 5:00 today, so just about 40 minutes ago, a portion of i-80 in the sierra now closed. >> now to this elon musk is suing the creator of chatgpt, openai, and its ceo, sam altman. >> he claims the organization is prioritizing profits over its original vision of helping people with new technology. fox's kelly o'grady has the latest. >> well, elon musk is suing openai on the grounds that the comp

elon musk suing openai and sam altman. >>> shifting gears for the "big money movers."ell shares are up over 21%. that's due largely part to net income growing by 89% for strong demand for servers. the pc maker raising cash dividend by 20%. >>> auto desk is moving higher this morning. generative a.i. generating robust demand for products. business in the asia pacific region is resilient. shares up 9%. >>> zscaler under pressure despite beating on earnings. more customers are moving away from firewall security and looking for better options. results show the selloff of stocks due to palo alto's light forecast. shares down 7%. >>> we are turning attention to the other big money mover, but it is not stock, but art. the sellers ditching the auction block in favor of private sales. we have robert frank with more. robert, i don't know if this is a frank and frank, but it is interesting. >> it is a frank and frank. everything is a frank and frank, frank. auction sales fell 19% last year, but one area that is growing is private sales. that's when an auction house brokers a deal

chat bot, and sam altman, the founder of the company.lus a flashback to what musk told me about that start-up. this was last may. we'll give you a look at futures here as we have a lot more "squawk on the street" straight n'gonyeru.yo dot awhe. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. whoa, how did you defeat them? pgim investments. with a little kung fu strength and by connecting my devices to the most powerful force of all. skadoosh. hah, huh? cool right? amazing. harness the power of xfinity internet and stay connected to the things you love. ah, they'll be like this for hours. hello dad, hello dad, hello da. uh-oh. good bunnie

stranger to the headlines, and just last week he was in the headlines for suing openai and its ceo sam altmane's facing a lawsuit of his own. we have this report. elon musk is being accused of unfairly depriving four top twitter executives out of their severance. the former execs say mr musk owes them more than $128 million collectively and they're suing. here's the discrepancy. mr musk said at the time that he fired them for cause, and therefore he didn't need to pay them severance. but the former executives say that's not true. they'd been on the forefront of efforts to make mr musk follow through on his acquisition of twitter after he offered and then backed away. the group includes twitter�*s former chief executive, the company's former chief financial officer, the former chief legal officer and the former general counsel. the lawsuit was filed in federal court in california on monday. a major aviation deal, spirit airlines and jet a major aviation deal, spirit airlines andjetare a major aviation deal, spirit airlines and jet are stopping the merger. —— jet blue. spirit will now face trou

reinstating sam altman to the board with full confidence after firing and rehiring him last november.follows the investigation by openai which concluded the ousting as a consequences of the loss of trust between altman and the board. >>> nvidia is sued by three authors who say it used their information to train the platform. class action filed in a san francisco court. the authors claim nvidia admitted to using the work to stimulate written language before taking it down due to copyright infringement. >>> and president biden signing a $460 billion package of spending bills and avoiding a government shutdown. the six measures will keep agencies turned through september. lawmakers are working on a second package of bills and including the department of defense and homeland security. >>> silvana, thank you. we stick with the biden administration. the news alert. the 2025 budget proposal set to be released today and we are learning some of what's expected. megan cassella is here with more. megan, good morning. >> good morning, frank. that's right. we are awaiting the release of the full b

he has sued openai and its ceo sam altman alleging they violated the artificial intelligence startupsnding mission by putting profit ahead of benefiting humanity. let's welcome in ed ludlow, the cohost of bloomberg technology. talk me through this because elon musk has a history with openai. ed: yeah, the simple fact here is that elon musk is basically alleging that this is some sort of illusory promise to the original backers of the project and says that when we founded this thing, we agreed this was going to be a nonprofit. it was for the benefit of humanity. it's going to be an interesting process to see if there is actually any legal grounds at all for elon musk to make that argument and then what his end goal is. the history that elon musk has using litigation as a means to send a message frankly or two basically get a competitive edge. for a while, he had an interest inxai which hopes to offer exactly the same thing is open i -- is openai currently does. katie: the fact that you have a competing product. what have your conversation sounds like around that point? ed: when interes

of sam altman and open a i should be worried about anybody suing them, elon musk would be the one theynd will stand in a courtroom it is quite a character and he's right about this one. when it comes down to it, they did little dance around taking a nonprofit and juicing the cash out of it and that is what they are up to. pete: creating a product that would be commercially beneficial for somebody and microsoft comes in, he's not asking for money. >> he's not saying i want financial renumeration, just get back on course, do what we set out to do, make this available for everybody. pete: the second topic, a lot of people ring doorbells. it is supposed to bring more security for us, you feel i can see out my front door, who was approaching my property, but you came across something we didn't know about. kurt:there are 12 different cameras for sale on amazon. this is not one of them. it's almost like coke. it is it is a safe product that works well. video doorbells. these are video doorbells and cameras $30 still on amazon that are vulnerable to security attack. after a thorough investigat

liz: must be nice to be part of the tomato throwing contest between openai sam altman and elon musk.his is such a rich area and you being in private equity at this moment, how does this private equity world look and you tell me it's good for you guys and right now and banks have tightened lending standards and new york community bank situation going on here and people are scared. they don't want to be stuck with bad loans on their books and that may leave real opportunity for you guys with private opportunity. >> private equity with a great track record in general and paying back all the debts and businesses were really high levered whistled started doing this 35 years ago and deals down to $5 million and if you can below that and they're down with purchase prices for less and right now there's mostly 30 to 50% equity and it's been not a problem and loans you're talking about are maybe for commercial real estate and they'll be really issuing for us and offices are about having refinance and revenue with private equities and liz: high inflation meant a lot of companies and startups ha

elon musk is suing open ai and sam altman over an alleged breach of contract.kelly o'grady has the latest on this. ♪ (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our clients' portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. everyone say, “space pod.” cheese. [door creaks open] [ominous music] (♪) [ding] meanwhile, at a vrbo... when other vacation rentals are just for likes, try one you'll actually like. it's time to feed the dog

sam altman was let go of open ai close, right?ng nervous about it. in terms of there being enough safeguards, etc. so i think they're actually closer than three years. i think we are perhaps one or two years away from that. you explained it to me in terms _ years away from that. you explained it to me in terms of— years away from that. you explained it to me in terms of the _ years away from that. you explained it to me in terms of the iphone. - it to me in terms of the iphone. so we had the iphone in 2004—2005, and now we have the generation, whatever it is, and it's taken us maybe 15 years to get to that point, right? this is happening exponentially quicker, such that we could arrive at a period very soon we are at this machine is accessing its own code and rewriting its own:. it's true. it's true. i think we are probably a lot closer than we realise and i guess the question is, you know, what are the positive, what are the negatives? because i think there still positives in these developments it will help us solve some major pr

at issue, why the egocentric or genius mindset that is nourished leaders like elon musk and sam altman-term but is not a recipe for growth. joining us now as mary murphy, the author cultures for growth along with david westin. take away. david: welcome, great to have you here. this book you have coming out tomorrow. but before we get into it, give us this mindset briefly because i'm not sure i was familiar with it before i read your book. >> the fixed mindset is the idea that you either have it or you don't. we have some traits, intelligence, talent, some people just have more of these things, other people have less, and cultures of genius, we really look to those star performers. the individuals on the team or expected to lead the way. all the resources and power are kind of concentrated in this genius model. on the other hand is the growth mindset, the mindset that anyone regardless of their talent, skills and ability has potential within them and they can grow that potential over time with a lot of resources, persistence, good strategies and helpful -- help from others. >> can you g

.— going to the us — elon musk made headlines last week for suing 0pen ai and its ceo sam altman.t. 0ur north america business correspondent erin delmore has more. elon musk is being accused of unfairly depriving four top twitter executives out of their severance. the former execs say mr musk owes them more than $128 million collectively, and they're suing. here's the discrepancy. mr musk said at the time that he fired them for cause and therefore he didn't need to pay them severance. but the former executives say that's not true. they've been on the forefront of efforts to make mr musk follow through on his acquisition of twitter after he offered and then backed away. the group includes twitter�*s former chief executive, the company's former chief financial officer, the former chief legal officer and the former general counsel. the lawsuit was filed in federal court in california on monday. health care now... there are more than 25 safe and effective vaccines to prevent disease. but millions still die every year because the doses don't get to the people that need them. 0ne compan

that's what sam altman and greg brockman are saying. few years ago because they're contesting this lawsuit. they're all smart guys, we admire if all of them. at one time they were friends. i think this is about ego and who wants to be the public face of a.i -- lauren: like may musk said, fight not with your fists -- what did she said -- stuart: that was in the book. check that big board, still up about 200 points for the dow industrials. show me the winners, there are quite a few on the dow 30. salesforce is up 2%. intel is up 2%. and there's better than 1 gains for dow inc., honeywell and united health. s&p 500 winners at the top, cincinnati financial. hewlett-packard,ing campbell's soup, sighworks and -- [inaudible] robinson world with wide. nasdaq, crowdstrike, why not? $57 higher. amd, another chip maker up $7. i don't know that -- lauren: can't he you there. stuart: we're lost on that one. zscaler, not that one. 10-year treasury yield is down to 4.1%. the price of gold is up close to an all-time high, $2,150 an ounce. bitcoin, abou

blizzard's former chief executive reportedly pitched the idea of buying tik-tok to open ai ceo sam altmanould be interesting. we're learning more about the private bank transactions from conservatives even terms like covid vaccines and immigration restrictions, they were all used. the report on that is next. ♪ ♪ (♪) is bad debt holding you back? ♪ the only limit is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪ ♪ it's our time ♪ ♪ you don't want to miss it ♪ ♪ it's your moment in the spotlight ♪ all your ambitions. all in one app. low fixed rates. borrow up to $100k. no fees required. sofi. get your money right®. (christina) with verizon business unlimited, i get 5g, truly unlimited data, and unlimited hotspot data. so, no matter what, i'm running this kitchen. (vo) make the switch. it's your business. it's your verizon. - [narrator] wounded warrior project helped me find the strength to go further than i ever thought possible. - [narrator] i was able to come outta my shell and really connect with others. - [narrator] so i can feel like part of a team

sue desmond-hellmann, nicole seligman, and fidji simo, the ceo of instacart and sam altman.ard members are staying, larry summers and brett taylor the former salesforce and facebook or twitter board member that is. and then let me go over what happened here in their reviews. so this was done by the law firm wilmerhale over the last several months and some of their findings include that the prior board did have the authority and discretion based on what they called, quote, to mitigate internal management challenges. that's why they fired them. they had the right to do it, but they also found it had nothing to do with product safety or finances or investor relations or anything like that that's been kind of going around. however, they also found that he should not have been fired. they said his -- let me quote from the release. his conduct did not mandate removal and also saying that the prior board did not think that their actions were going to cause the upset and turmoil that did, but really very broad here. we don't have the full ins and outs of the investigation. i will al

blizzard studio, bobby kotick, became interested, who again, according to rumors, wants to involve sam altmanad of open ai, the creator of gpt, in the deal, well, it should be noted that the fight against tiktok has been going on in the united states for four years now. years, first it was banned for military personnel, then for officials in most states , the hearings in congress did not help, at which the general director of the service justified himself for not checking the source code with the american oracle, which is curious, he began a crusade against such vertical music videos, or rather for transferring this service to americans, then-president donald trump, ironically, current presidential candidate donald trump is now almost defending tiktok, according to his version, if tiktok is closed, then zuckerberg will double it. his business, it is his partners who are the real enemies of the american people. give gifts with a free vtb credit card. 20% cashback on everything, and 200 days without interest. they say that life is like a journey. go there with the jett tour crossover, your new

. >>> sam altman has returned to the -- ward of directors. today, open ai revealed that the board concerns about altman had nothing to do with product safety and security but there was a significant breakdown of trust between the prior board and altman. >>> let's take you over the sierra. check that out. that is a gorgeous view. skies are clear today and it looks really beautiful up there but heads up if you are driving to the mountains. a winter storm watch is in effect for the northern sierra. more snow is expected. chp is warning drivers to prepare for slick roads and possible train -- chain control. >> the snow pack recovery from the beginning of year is 20% of average to now is impressive. we are getting very close to that april 1 benchmark. let's look at the numbers. as we go back to january 1 when the snowpack was about 28% of average to where we are as of today, that is 102% of average. the aerial views are right out about 100% of average. if they can maintain those levels over the next few weeks, we will have about one third of the s

first, musk accused the head of openai sam altman is that he betrayed his ideals by taking $13 billioncrosoft and moving away from the original idea of ​​creating an open project, a better and freely accessible model for everyone , as opposed to the closed commercial projects of the corporation, well, primarily google. in response, open ai executives including. dollars instead of the promised billion, and in general he tried to seize power in the project, then merge it with his company tesla, when he did not succeed, he slammed the door, and as for money, as the research progressed, it became clear that the creation of an artificial general-purpose intelligence is significantly more expensive than expected, it ’s many billions annually, you need to get it somewhere, and free tools in... have not been created and are publicly available, in general, it turns out that everyone is for everything good, who is for the truth to a greater extent, the lawyer will decide in the end, elon musk has already initiated a trial, this is all about technology for us at this moment, novel, thank you, phi

last night, he filed a lawsuit against openai and its see you sam altman. the goal of the lesson is to compel openai to return to its original mission. neither openai nor microsoft has commented on the case. >>> and make abortion drug will soon be available in california pharmacies mifepristone is one of the drugs doctors prescribe to induce medical abortion. normally, you to fill the perception in person at a clinic or in a dr. office. the fda recently changed the rules to expand access to that medication. today at walgreens and cvs will begin dispensing to patients with a prescription. that is only in states where abortion is legal. the pharmacist will not sell them if abortion has been beyond. and they will not ship the drug in the mail. >>> jeff ranieri joins us again talking about the blizzard in the sierra . it is coming down hard. it is just the beginning. >> the heaviest snow through tomorrow and on and off snow into early next week. tough going up to . here in bay area we have started to see the next round of rain beginning to pick up and not micro

. >>> back in the helm tonight, sam altman returned to the board of directors, he was ousted back inr. they ended the investigation into his removal. the company did not publish the report but provided a summary. the board's concerns about altman had nothing to do with product safety and productivity. >>> you can ditch the number 2 pencils, students taking the sat no longer need them but a laptop instead. first time it will be in a digital format, studentsville to show up at the testing center. during the pandemic they made it optional for applicants, this year, some colleges like yale and brown reinstated it. it is an hour shorter by the way than the written test. >>> okay, steph curry, may of dodged a bullet. we . >>> warriors fans and the team everyone holding their breath, unsure what is going to happen because of steph's ankle injury. >> we don't know exactly how long he will be out but a bit of good news, nbc sports bay area says his mri result is classified as positive news and it is expected he could miss between 7-10 days, a clearer time line might come out tomorrow. he roll

it says sam altman and openai diverge from their original nonprofit mission of benefiting humanity by partnering with microsoft for 13 billion dollars. musk also claims. it is keeping its newest code for ai products. a secret. musk wants a jury trial and openai to pay back profits it received from the business musk co-founded openai in 2015 he left and he's since formed his own ai company. the san francisco unified school district is getting a new payroll system. this comes after employees in the district. >> said they weren't to receiving accurate paychecks for nearly 2 years. sfa usd will bring a contract to the board of education later this month for approval with a target date for fully implementing the new system july 2025. superintendent doctor matt wayne said the decision was made after thoughtful and careful consideration as the 3rd largest employer in the city. meantime, students at mountain view high school are accusing their school of censorship. journalism. students filed a lawsuit yesterday after the school's principal removed a story about an alleged assault case against

also, elon musk is suing the creator of chatgpt, openai ai, and its ceo, sam altman.e claims the organization is prioritizing profits over its original vision of helping people with new technology. and governor newsom's office announced the ten step action program is intended to improve oakland's city streets. you can find these stories and more. ktvu.com. i'm a fresh start for san francisco's biggest mall coming up. >> why experts think some changes will be good for business moving forward. i launched our campaign at this union hall. let's go win this thing! then we hit the road and never stopped. you shared with me your frustration at working harder to barely get by and afford a place to live. your fears for our democracy and freedoms and your dreams for yourself, your family, and the future. it is not too late to realize those dreams. i'm adam schiff, and i approve this message because together we can still get big things done. ballroom on venice avenue on saturday, march 15th. the title is a riff off of the concept that the city is stuck in a downward spiral amid

it says sam altman in openai diverge from the original nonprofit mission of benefiting humanity by partnering with microsoft for 13 billion dollars. musk also claims openai is keeping its newest code for ai products. a secret musk wants a jury trial and he wants openai to pay back profits it received from the business musk co-founded openai in 2015 he left and has since formed his own ai company. >> republicans in the state legislature are demanding an ethics investigation amid a report suggesting one of governor newsom's campaign donors inappropriately benefited from an exemption in the state's new fast food minimum wage last year, newsom signed a law to increase the minimum wage to $20 per hour at most fast food chains in california come april first. but exception was made specifically for change the bake bread and sell it as a stand-alone item. it was understood that exemption included panera bread fast forward to last week. a bloomberg article suggested the exemption was made because donor and panera bread. franchisee a billionaire greg flynn going to the same high school as new some expr

openai challenging musk's claim of the existing founding agreement between him and sam altman and greg brockman. openai called the case frivolous and musk supported a for-profit structure for the startup. >>> shares of advanced auto parts getting a boost ahead of the open. this is after revealing that dan loeb's investor has taken a stake in the company and reached a settlement that will give them three board seats. the size of the stake was not immediately clear. the auto parts provider has seen the stock slide since 2022 and cut the forecast and dividend after being hit by elevated material, labor and transport costs. shares of new york kmucommunity bank on the rise this morning after closing the capital infusion deal by steve mnuchin. it will have a one for three share stock. frank. >>> we have a market flash of amd. it tumbled yesterday after the negative headlines in the a.i. space. speaking with jon fortt yesterday, the tone of a.i. was at issue for lisa su. >> the truth is a.i. is still in its infancy. we know it will get better. we know you can make the models better. we know y

sam altman with his being involved with the company there is a lot around the ai story to push that multiplewill be a challenge. ed: i don't think there is a single member of alexis ohanian and other cofounders in the x1. when they step on the show i will ask about that. greg always knows the full so what is going on on the ground. coming up, we discuss the health of the crypto investing landscape and more with our correlated partners founder s alil deshpande. that's next on bloomberg. ed: this is bloomberg technology looking at a live shot at the principal room coming up on bloomberg television. the coin shares ceo joining us live on bloomberg crypto at 12:00 p.m. eastern 9:00 a.m. pacific. this is bloomberg. let's get new the. venture capital firm excel is backing an ai start up that is using the technology to kill finance paperwork. it uses artificial intelligence to help businesses square accounts and manage budgets and raised $29 million in an early round led by xl india, y combinator, elevation capital, and others took part in the series bringing the san francisco-based startup's total

elon musk made headlines last week for suing 0penai and its ceo sam altman. a lawsuit. 0ur north america business correspondent erin delmore has more. he is being accused of unfairly depriving for topped wood executives out of the severance. the former executive say elon musk was that more than $128 million collectively. and our suing. than $128 million collectively. and oursuing. here than $128 million collectively. and our suing. here is the discrepancy. elon musk sat at the time that he fired them for because i did not need to pay them severance. at the former executive say that that is not true. there had been on the forefront of efforts to make elon musk follow through on his acquisition of twitter after he offered and backed away. the group includes twitter�*s former chief executive, the companies former chief financial officer, the former chief legal officer and the former general counsel. the lawsuit was filed in federal court in california on monday. let's get some of the day's other news now. staying with elon musk. shares in tesla fell more than 7%

tom: do you plan to deepen your relationship with openai and sam altman?am grateful for the fact that we have had a great relationship. we worked with them. when i first experienced chatgpt , which for me was mind blowing the first time you use it. even more than the first time i use google 20 years ago, when i did that we reached out to sam. we had a common investor and i said i would love to get 30 minutes with you and i would love for klarna to be one of the companies that let us try anything, and we'll see how we can use them to create value for our customers, and since then we are happy to hear we are among the largest customers today. tom: it is helpful to lean into the ai theme if you are looking to the ipo, so what is the latest on that in terms of the timeline and the location? have you set your sights on new york? >> it is helpful to lean into it for another reason as well. when bitcoin came along i looked at that technology i was not good events. i always go to my mom and say when you use this will this help you? she could not see the value. whe

it's you air is going to become sentient and oh we got to be you know you see sam altman out there going just i just i'm just so worried that this thing could become so powerful. didn't know i was an evil wizard. exactly like, oh, why do i have to keep building this. i just have to release another enterprise tier now. oh, god. it's those guys who show up the emergency room and say, like, i tripped on the shampoo bottle, just went right up there. yeah, yeah. you know, obviously these could stop it if they were terrified of it, they could stop. orienting their entire business around it. but not what they want to do. and you look at where the real business is, you know, all of the languageative stuff you could do, like check out mid journey and make paintings and but we're all the real money is is selling enterprise tier software to managers who are going to use that to try to squeeze or or trim heads in that department and look not that there's no use for this stuff. so like my friend patrick ball founded a nonprofit called the human rights data analysis group,leading forensic statistis fo

we had sam altman in congress pushing for regulation.e had that in brussels but well arguing they have also been lobbying against some of the strictest controls they've seen in brussels. last year they were really effective in getting the french government pushing these government saying we will be able to compete with u.s. companies. they were rbc partnered with microsoft so that left a bad taste in a lot of lawmakers mouths but also affects other companies signing on for voluntary commitments trying to prove to governments they are taking this seriously. i think more and more to tech companies might be self-serving. caroline: jillian, we thank you so much braid what if you got coming up? >> the other top tech stories, first off the pentagon pulling out of plans to spend as much as $2.5 billion on a chip grant to intel according to sources. the move threatens the total amount of federal funding intel was expecting to receive it now puts the onus on the commerce department to make up the shortfall. it was part of a package that allocated

public firing of ceo sam altman for same concern he was pursuing profit over safety.was reinstated. the suit musk is seeking repayment and more importantly open ai return to core mission, amidst ai revolution. back to you. >> steve: thank you very much. i >> what is apple doing? everybody trusts apple for a variety of reason. interesting to see what they finally do unveil it if it's different. >> ainsley: it is scary when you hear the mom who said she got a phone call, thought it was her daughter. it was a.i. using her daughter's voice to say send me money. >> brian: and how disappointing to see what they're doing with the images of our founding fathers. they're subjected to human input. the big news for apple. their electric car project shelved. they lost billions. >> steve: one heard the f.b.i. director talking yesterday about how a.i. could impact our election in november and just imagine deepfakes of some of our politicians. crazy. >> brian: all right. watch me on radio. >> ainsley: okay. >> bill: good morning, everybody. here we go. minutes from now donald trump

just dug into the lawsuit and let me break it down for you, musk is suing on the grounds open ai sam altmanhe nonprofit mission and owe him millions of dollars for donating under false promises. musk used his brands and connection and $44 million of his money to fund the efforts to develop a.i. for good. however, in 2019 open ai created a separate for-profit armed funded and partially owned by microsoft. the key driver of the lawsuit. musk lawyers argue open a.i. has transformed into a subsidiary of the largest tech company in the world. it's not developing but refining a.i. to maximize profits for microsoft rather for the benefit of humanity. basic will i anyone could benefit from the company's discoveries. the most advanced products like chatgpt are closed off not from microsoft. others have these concerns. the suit follows a public firing of altman on accusations he was pursuing profit over safety. that nonprofit board was axed in a coup that restored him as ceo. musk looking to recoup that money. he was the chair of a nonprofit foundation. this wasn't a traditional investment with equit

and sam altman will do okay.it, after all, built on the back of users, much like ebay is about sellers, reddit is all about those that posts. >> our goal was to bring in the ethos of reddit and level the playing field on the terms the same way professional investors would. >> those that receive stock are able to sell it right away this morning, and that could create a bit of volatility in the stock. it has been a while since we had a big tech ipo. trading will not necessarily begin anytime soon. it took facebook hours, if you will remember, marcus, for it to start trading on its debut, and that was ten years ago. but it took a long time. stock markets open, and reddit not yet trading. >> we will be waiting and watching. thanks, scott. >>> developing for you in the south bay, regular customers at a san josÉ coffee shop in shock after the arrest of a man accused of hiding a small camera in the public restroom. bob redell is live outside of the police department in san josÉ. bob, the scary part about this, we are ta

you know, that company in particular has a long history and close ties with sam altman, who runs openaiat relationship over the last decade or more benefited their ability to ride this wave and reddit itself is an incredible property. i am a multiple times a day. a wealth of information they have and all of the different subcommunities and the way people talk honestly and freely about what they think, you know, it is an incredible data source. ed: what i find so interesting, particularly in deployed capital, the types of startups you invest in, reddit is an example of where don't need to be a builder of large leg which models or infrastructure play to be a participant in what is happening in ai. do you have any parallel examples of companies you think will benefit from the infrastructure investment happening? kim-mai: i think for us, you know, we have long done many different deals that have very specific applications to different workflows and industries. for example, you could think about the health care use case. have a company that supports medical professionals and diagnoses. we ha

he reportedly floated the idea of the purchase to sam altman.futures. >> our entire intelligence community led by the fbi who is responsible for counter intelligence are all in agreement here that tiktok is absolutely a threat to our national security and certainly most significantly would be if we had a conflict with china in terms of what they know about the american people would be a huge advantage to them at that time they how to manipulate them. cthem. maria: joining us now is gatestone institute senior fellow, gordon chang back with us. gordon, great to see you. talk to us about the threat of tiktok. it's not just surveillance and gathering of user data, it's also the propaganda that tiktok spews out, right? >> yeah. absolutely. you know, what we have is 170 million spy balloon as people say but the real threat is the one that general keane talked about which is china'ses use of the curation algorithm to show your kids things or to not show them and china has used this curation algorithm to, for instance, promote illegal drug use in the u.

o'leary opportunist good threw hiem out i will put a bid in myself as far as real players go watch, sam altmanare people, that, you know, in private equity that could do something divest it, but are they going to divest in two companies could probably buy right now in meta, and google, but it will never passion regulatory strunt you have to look for outside investors, as far as mnuchin may be in washington in a few months maybe getting a group together how involved i don't know he was vital trying to divest late in trump administration oracle got involved made a better bid than microsoft to try to have that tiktok global operation in texas set up interesting to watch, people flip-flopping on issue fact president made a tiktok after trying to ban it lead by capital trump, was against it now kind of quiet, so i want to see what happens, but, this is something to watch out for, it is going to be interesting not going to just solve itself over the. maria: thanks for weighing in quick break president biden avoiding all questions once again, some democrats still tout his job performance last four ye

even sam altman trying to play down use of that saying they would draw from many sources talking about the "new york times" lawsuit and saying that openai is drawing on their data without their permission. how sustainable do you think is really is? >> sustainable in at least the near term. so as we have this a.i. arms race, we have huge competitors, openai, google and fropic building models against each other to get to artificial general intelligence, the reddit data is important for that because they are in ways these communities, 100,000 active communities sort of like expert networks on niche and useful topics. i think over the longer run as the models get towards more artificial general intelligence there's a cap probably to that data from reddit. >> how important is profitability, and how soon for reddit? in other words, nice revenues but no profits so far? >> profits are tough in social media for all of the companies that really don't have scale like meta. social and advertising in general online. it's really a scale game. if you have the scale of a meta, an instagram, you can dr

>> sam altman. >> really?he was very briefly the ceo of the company, and so he -- but through that process, he bought some shares. but advanced it has turned quite a profit, because they originally invested $10 million. >> and now $1.4 billion. interesting story in "the new york times" today about reddit and how it transformed itself from the inside out, not by targeting individual redditors or contributors, but by targeting sub-reddit groups and kicking them out to make it a less toxic place to hang out. >> yes. you really want to have positive information, positive contempt. you don't want to have anything toxic or inappropriate. advertisers don't want to have their content near anything inappropriate. so reddit empowered their moderators, the unpaid people who are doing such important work on reddit to pull out stuff that's false or that's offensive or that's hate speech. so they really empower them with more tools to make sure they're keeping the content on reddit there. >> i look forward to next week. joi

. >>> elon musk back this the headlines, suing openai and ceo sam altman. market guest welcomes any pullback in tesla stock on that noise and ready to buy more. >>> following bitcoin's monster run, we have a special three buys and a bail edition for crypto. that's all ahead. right now, know, markets are seemingly moving towards the highs of the session. it's green across the screen. you can see right there, the dow up about 0.2 of 1%. the s&p 500 up almost half of 1%. and thwe have boeing and spirit aerosystems. there could be deal talks growing between the two. that's where spirit shares are up north of 13%. >>> plus, our chart of the day. it's new york community bank corps, ticker nycb, down about 25% again. this is the embattled new york based lender that replaced its ceo at this point. that's where we begin. leslie picker is here with the latest ohhen this saga. there are multiple headlines involving them today. >> multiple headlines, you're right. still losing about a quarter of its valuation. all of these just the latest salt in the wound of investors

sam altman talking about localizing and bringing chips into america, building there, creating a foundation and he put a price tag of $7 billion. obviously billion is quite a bit. that puts into perspective how much money a lot of companies have to spend over years. i say years. over 11 years here. microsoft has been working on their chips for over five, six years on their custom ai chips yet they've only recently launched them. meta falls into that category too. it's not easy to do. eventually the money is going to run out and they'll realize we either let the chip companies do it or we decide we're doing a good enough job or we go and acquire a smaller chip company which was actually the case for this particular lab years ago. >> thanks very much. >>> next topic on technology. topic tiktok. congress seems to want to ban the app or force its chinese owners to sell it. what do you think? steve liesman joins us now. steve. >> hey, tyler. thank you. nearly half of americans are concerned enough about the national security threat posed by tiktok to support either banning the social media app o