TLDR

MARKET RECAP → Down, down, down the Dow (DIA) went Friday as the fog settled in ahead of a very uncertain 2025. Are you feeling lucky?

OPENAI SAYS IT NEEDS MORE CAPITAL → 💰 OpenAI plans to restructure as a public benefit corporation to attract conventional investors and fund its $157 billion valuation ambitions despite Elon Musk’s legal opposition and leadership challenges.

NETFLIX SCORES RECORD NFL STREAMING CHRISTMAS → Netflix (NFLX) broke records with 65 million viewers for its exclusive NFL Christmas Day games, boosted by Beyoncé’s halftime show, while the NBA saw its best Christmas ratings in five years. 🏈

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Holiday SZN

TODAY’S TOP NEWS

OpenAI Needs More Capital

🏢 Restructuring for Growth: OpenAI announced plans to transition into a public benefit corporation (PBC) in 2025, allowing for commercial operations alongside its nonprofit initiatives. This shift aims to attract conventional investors while maintaining charitable work in health care, education, and science.

💸 Funding Challenges and Expansion: With a $157 billion valuation, OpenAI is facing mounting financial demands, expecting $5 billion in losses this year. The company plans to raise additional capital to remain competitive in the booming AI market, which is forecasted to exceed $1 trillion in revenue within a decade.

⚔️ Legal and Talent Hurdles: OpenAI’s transformation faces opposition from Elon Musk, who criticized the move as a “total scam” and filed a lawsuit to block it. The company has also experienced significant leadership departures, with some former employees citing concerns about safety priorities taking a backseat to commercial goals.

TODAY’S TOP NEWS

Netflix Scores Record NFL Streaming Christmas

🏈 No Ceilings: Netflix (NFLX) shattered streaming records with its exclusive Christmas Day NFL games, drawing nearly 65 million U.S. viewers. Highlights included the Baltimore Ravens’ win over the Houston Texans, which peaked at 27 million viewers during Beyoncé’s halftime performance.

🎥 Always. Be. Closing. The partnership marks the first year of Netflix’s three-year deal with the NFL for Christmas matchups, showcasing the streaming giant’s muscle in live sports. Netflix’s Chief Content Officer called it the “best Christmas gift” for fans.

🏀 Please Wait… The NBA also had a banner Christmas, averaging 5.25 million viewers per game, the highest in five years. The Lakers-Warriors showdown led with 7.76 million viewers, highlighting a strong rebound in holiday sports viewership.

BULL VS. BEAR

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