Good evening!
They say that all good things must come to an end, and in this case, it’s Southwest’s free checked bags.
Here are the 7 things you missed today:
1. 🧰 OpenAI Launched New Tools for Businesses
OpenAI unveiled new tools to help developers and enterprises build AI agents using the company’s own AI models and frameworks. Aimed at increasing office productivity, these agents will be capable of automating tasks like financial analysis and customer service. The platform allows businesses to develop AI solutions tailored to their specific requirements. (Tech Crunch)
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3. 📉 Disney Faced a Historic Stock Dip
Disney’s stock went down 13.5% in less than two weeks. A drop this steep and this quick has not happened to the conglomerate since November 2021. Speculations over the drop vary, but some experts predict that consumer spending is at the helm. Consumers have been pulling back on non-necessities like vacation and travel, which would affect Disney’s theme parks and cruise lines. (Quartz)
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5. ✈️ Southwest Axed Its Free Checked Bags Perk
The Southwest that we know and love is no longer. After starting the year with a series of layoffs and a hiring freeze, the major airline announced they are ending one of its most popular policies, two free checked bags for every customer. The perk is now reserved for Southwest’s “most loyal customers,” Rapid Rewards A-List Preferred Members, and customers traveling on Business Select. (Quartz)
6. 🤖 Meta and OpenAI Don’t Have Enough Chips
Both Meta and OpenAI have expressed concerns over a significant graphics processing units (GPUs) shortage. These chips are essential for training and running generative AI models. Despite these challenges, Meta continues to deliver the most incremental return on invested capital (ROIC) from its investment in generative AI. Earlier this year, Mark Zuckerberg announced plans to invest between $60 billion and $65 billion in AI in 2025. (Quartz)
7. 🏦 Synctera Secured $15m and Bolt as a Customer
BaaS Synctera raised $15 million in funding in its latest Series-A extension round. The company also signed one-click checkout company Bolt as a customer, bringing its customer count to 31. Synctera is a startup that provides a platform for fintech companies to develop, launch, and scale their financial technology projects. (TechCrunch)
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