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- 🗞️ Elon Musk’s $97.4 Billion Bid for OpenAI
🗞️ Elon Musk’s $97.4 Billion Bid for OpenAI
Plus: Apple Partners with Alibaba
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Here are the top stories for today:
🗞️Elon Musk’s $97.4 Billion Bid for OpenAI
🤝 Apple Partners with Alibaba for AI Features in China
🛠️ AI Resources
🤯 Quick Takes
Read Time: 5 Minutes
Everyday investors net +$60M in proceeds from the sale of exclusive assets
From CEOs to shop owners, investors in Masterworks’ art offerings have received more than +$60,000,000 in total net proceeds to date (including principal) across their 23 exits.*
Surprised that so many people are interested in art investing? Bank of America recently found 83% of wealthy American investors 43 and under already collect, or want to. Normally, only the top 1% of investors would be able to diversify with art like Picassos and Banksys. But with Masterworks, you can easily diversify into this asset class without needing millions, or art expertise.
With a team that’s been working since 2019, Masterworks investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5% (among assets held for longer than one year).
NOTE**The content is not intended to provide legal, tax, or investment advice.
No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation.
“Net Annualized Return” refers to the annualized internal rate of return net of all fees and expenses, calculated from the offering closing date to the date the sale is consummated. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. For additional information regarding the calculation of IRR for a particular investment in an artwork that has been sold, a reconciliation will be filed as an exhibit to Form 1-U and will be available on the SEC’s website. Masterworks has realized illustrative annualized net returns of 17.6% (1067 days held), 17.8% (672 days held), and 21.5% (638 days held) on 13 works held longer than one year (not inclusive of works held less than one year and unsold works).
*“Net proceeds” represents the total liquidation proceeds distributed back to investors, net of all fees, expenses and proceeds reinvested in Masterworks offerings, of all works Masterworks has exited to date. This metric is not considered a presentation of performance but rather a mathematical figure that displays a platform metric on size, scale, and operation of the platform.
In the Know
Elon Musk’s $97.4 Billion Bid for OpenAI
A group led by Elon Musk has proposed a $97.4 billion acquisition of the nonprofit overseeing OpenAI, intensifying the ongoing debate over the organization's future. This move challenges OpenAI’s plans to shift toward a profit-driven model and deepens the rift between Musk and the company’s leadership.
Key Changes Coming:
Acquisition Attempt: A consortium, including Musk’s AI company and financial backers, aims to take control of OpenAI’s nonprofit entity, potentially altering its direction.
Longstanding Feud: Musk has repeatedly opposed the organization’s shift toward commercialization, leading to past legal disputes.
Political and Financial Influence: His involvement in government initiatives and substantial political contributions add another layer to the ongoing tensions.
Legal and Structural Conflicts: Previous lawsuits have argued that OpenAI’s leadership prioritized financial gain over its original mission of benefiting the public.
Funding and Valuation: OpenAI’s high market value complicates any potential buyout, as the organization is already in talks with other investors for substantial funding.
Potential Consequences: This bid forces OpenAI’s decision-makers to consider the offer, which could impact its fundraising efforts and future governance.
Musk’s offer introduces uncertainty into OpenAI’s future, questioning whether it will remain independent or see a shift in leadership. While the bid faces significant obstacles, it underscores the larger debate over the commercialization and control of AI.
💡 Did You Know?
AI Once Beat Fighter Pilots in a Dogfight – In 2020, an AI system developed by DARPA defeated a highly trained U.S. Air Force pilot in a simulated aerial dogfight, winning all five rounds.
Apple Partners with Alibaba for AI Features in China
Apple has teamed up with Alibaba to develop AI-powered features for iPhones in China, pending regulatory approval. This partnership follows Apple’s extensive testing of AI models from various Chinese firms, initially selecting Baidu as a primary collaborator. However, Baidu's technology reportedly failed to meet Apple’s standards, leading the company to explore other options, including Tencent and ByteDance. Ultimately, Alibaba was chosen for its capabilities, while Deepseek was ruled out due to resource limitations. This move reflects Apple’s strategic push to enhance AI offerings in China while navigating regulatory requirements.
Trending AI Resources
Quick Takes
Google Expands NotebookLM Plus to Individual Users: Google has made its AI-powered note-taking assistant, NotebookLM Plus, available to individual users through the Google One AI Premium plan for $20 per month, with a 50% discount for students. The premium version offers expanded usage limits, AI-generated audio features, and future support for multiple languages, while Google continues to refine its AI models and plans to launch a mobile app.
Macron Unveils €109 Billion AI Investment in France: French President Emmanuel Macron announced a €109 billion investment to boost France’s AI ecosystem, emphasizing the country’s nuclear energy advantage for attracting data centers. He also called for a unified European AI strategy to streamline regulations, enhance computing capacities, and encourage European companies to support local startups.
That’s all for Today!
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