Business & Tech News
OpenAI to remain Non-Profit:
The board of OpenAI has made the decision to keep the company as a non-profit entity after several months of driving a plan to convert itself into a for-profit business. The move had been challenged in court by Elon Musk and by several senior ex-OpenAI employees who had said it was a deviation from its original purpose, on which the company had been founded. Musk was an early investor in the business. OpenAI has now reversed its course and said that its nonprofit will continue to control the company that developed ChatGPT. “We made the decision for the nonprofit to stay in control after hearing from civic leaders and having discussions with the offices of the Attorneys General of California and Delaware,” said CEO Sam Altman in a letter to employees.
Altman and the chair of OpenAI’s nonprofit board, Bret Taylor, said the board made the decision for the nonprofit to retain control of OpenAI but is proposing another way to grow its business. As part of what Taylor described as a “recapitalization,” the nonprofit’s existing for-profit arm will convert into a public benefit corporation “that has to consider the interests of both shareholders and the mission.”
Skype Closed Down:
The once leading online meeting and online video calling service, has finally been shut down by Microsoft after a 23 year run after a dwindling Skype user base and with a development foccus and surge in the Teams platform useage. Microsoft has made this decision in order to “streamline our free consumer communications offerings so we can more easily adapt to customer needs”, according to an official statement. Jeff Teper, President, collaborative Apps and Platforms said that “We will be retiring Skype in May 2025 to focus on Microsoft Teams (free), our modern communications and collaboration hub”. Skype users will be able to migrate their contacts and data over to the Microsoft Teams platform or can download their data for use on an alternative platform.
AI Ambitions from IBM Announced:
IBM today announced a serious play to corner greater market share in the dynamic artificial intelligence field, with an offering of AI tools that are set to assist AI adoption and help customers to manage an array of AI agents for key opperational applications. IBM Chief Executive Arvind Krishna said in a recent interview that he had identified an AI market gap to provide software that integrates customers’ AI agents from other providers including Salesforce, Workday and Adobe, The new software would enable customers to also build their own agents for untapped use cases, with assistance from IBM. “We help our clients integrate. We want to meet them where they are,” he said, preemting what will be a major topic of discussion at IBM’s annual Think Conference that takes place today. According to Krishna, IBM’s tools would enable clients to create their own agents, in under five minutes.
Business, Tech & Market News Shorts:
- Apple has sold $4.5 billion worth of bonds yesterday. This is the first offering it has released in two years. The company plans to use proceeds to repurchase stock and repay outstanding debt.The offering included $1.5 billion of three-year notes and $1 billion each of five, seven- and 10-year notes. Apple has $8 billion in debt maturing from May through November.
- Google will be making movies soon with a new film and TV production initiative called 100 Zeros’s, the company is in the process of sourcing new film projects it plans to fund or co-produce, This is a move that could see it capitalize on an industry reeling from high production costs and potential U.S. tariffs. The initiative is a multi-year partnership with Range Media Partners, a talent firm and production company well known in the movie industry.
Markets by Numbers
Currencies:
Currency markets indicate the US Dollar has strengthened slightly and is currently trading against the Euro at 1.13166, and trading slightly higher against the Pound, at 1.32883. The Yen is currently trading upwards at 143.84 to the dollar. The rand has strengthened further against the US dollar, and is trading at R18.28.
Commodities:
- Gold futures prices have gained almost 1% this morning, and are currently trading at $3367 per ounce.
- Copper prices are trending upwards and are currently at 4.6680.
- Silver futures prices have gained 1,6% this morning and currently trading at 33.008
- Platinum futures are gaining for the second consecutiveday, and trading at $966.70 currently, while Palladium prices are trending upwards after a sharp drop late yesterday and at $939.50 currently.
- Brent crude oil prices, have gained almost 2% this morning and are back above the $60 per barrel level, and are currently trading at $61.33, with WTI trading at $58.27.
- Cocoa futures have dropped by over -3% this morning, and are at $8634 per ton.
- Coffee futures prices are trending lower and are at $395 currently.
Crypto Currencies:
- Bitcoin prices are trending lower today and are currently trading at $94435
- Ether prices are trading -0,8% down this morning and at $1804 currently.
- $Trumpcoin has dropped by over -2% today and is currently trading at $10.98
(All prices quoted at approximately 08H20 – Central African Time)
Other Breaking News in Africa Today
Congo and Rwanda Draft Peace Deal:
A US-led peace negotiation between the Democratic Republic of Congo and neighboring Rwanda has resulted in a draft peace proposal that may result in a cessation of fighting in the mineral-rich eastern region of the Congo. U.S. official and President Donald Trump’s senior adviser for Africa and the Middle East, Massad Boulos, said on social media that he welcomed the draft text “received from both (Congo) and Rwanda,” calling it “an important step.” The full details of the draft were not available and they have not clarified if the deal includes access for the US to the region’s critical minerals, which has been touted by Congolese President Felix Tshisekedi in return for assistance from the U.S. to help bring about a resolution of the long standing conflict that has resutled in massive human desettlement and the deaths of thousands of civilians.
Sudan Attack Reports:
According to observers, there have been a string of explosions and fires seen and heard in Sudan’s capital Port Sudan earlier today. The exact locations and causes were unclear, as a civil war rages through the previously peaceful city for the third day. Witnesses say that dark plumes of smoke could be seen emerging from the vicinity of the country’s main maritime port in the city where hundreds of thousands of displaced people have sought refuge.
