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TLDR
MARKET RECAP → Stocks fell for a second consecutive session as September continues to sputter to a slow start.
JOB OPENINGS DECLINE IN JULY → 📉 Job openings fell in July 2024, signaling a potential cooling in the labor market, as employers became more cautious. Meanwhile, layoffs slightly increased, indicating adjustments to economic uncertainties.
AI Co-Founder’s $1B Power Move → 💰 OpenAI co-founder Ilya Sutskever raised $1 billion for his new AI firm, aiming to disrupt the industry with advanced machine learning, positioning it to compete with tech giants.
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TODAY’S TOP NEWS
Job Openings Decline in July
📉 The July 2024 JOLTS report revealed a decrease in job openings, signaling a potential cooling in the labor market as employers become more cautious about hiring.
🔄 The decline in openings coincided with a slight increase in layoffs, suggesting that businesses are adjusting to economic uncertainties and shifting market conditions.
💼 While the labor market remained tight, the report indicated that some pressure might be easing, which could influence future Federal Reserve policy decisions.
TODAY’S TOP NEWS
AI Co-Founder’s $1B Power Move
💰 OpenAI co-founder Ilya Sutskever secured $1 billion in funding for his new AI venture, marking one of the largest early-stage investments in the field. Investors showed strong confidence in Sutskever’s track record and vision for AI innovation.
🤖 The new firm aimed to push boundaries in AI research, focusing on advancing machine learning capabilities and exploring new applications in industries from healthcare to finance. Sutskever promised to deliver cutting-edge AI solutions that would reshape the market.
🚀 This funding round highlighted the intense competition in the AI space, as firms scrambled to capitalize on the technology’s rapid growth. Sutskever's new company positioned itself to compete with industry giants like Google and his former company, OpenAI.
NOTABLE POSTS
did you make this in excel
— memes.xlsx (@ExcelHumor)
12:39 PM • Sep 4, 2024
Gen Z interns and Post MBA associates working on a pitch deck
— litquidity (@litcapital)
9:53 PM • Sep 1, 2024
No way this dude picked NYU over Wharton
— High Yield Harry (@HighyieldHarry)
4:22 PM • Sep 4, 2024
KEEP READING
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Qualcomm ramps up challenge to Intel and AMD with latest AI PC chip (CNBC)
Costco’s first membership price hike in 7 years just went into effect (CNN)
US regulators want to investigate Shein and Temu over ‘deadly’ baby products (CNN)
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