tech

OpenAI has an army of ex-investment bankers making financial models to train ChatGPT

OpenAI is looking for its killer app for the business world. After all, you can only sell so many $20 monthly subscriptions to consumers — which currently accounts for 70% of its $13 billion annually recurring revenue.

Bloomberg is reporting that OpenAI is beefing up ChatGPT’s financial chops to target the deep pockets of the banking industry.

According to the report, “Project Mercury” has lined up over 100 former investment bankers getting paid $150 an hour to help teach OpenAI’s models how to do the grueling work of junior bankers, including tweaking PowerPoint slides and building financial models in Microsoft Excel.

OpenAI Hires Ex-Goldman Staff to Help Cut Down Junior Bankers’ Grunt Work

OpenAI Hires Ex-Goldman Staff to Help Cut Down Junior Bankers’ Grunt Work

According to the report, “Project Mercury” has lined up over 100 former investment bankers getting paid $150 an hour to help teach OpenAI’s models how to do the grueling work of junior bankers, including tweaking PowerPoint slides and building financial models in Microsoft Excel.

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tech

Apple reportedly delays its foldable phone to 2029 or later

Apple has pushed back the debut of its $3,000 foldable phone — part of its three-year plan to update how the iPhone looks — to 2029 or even later, Bloomberg reports. Originally Bloomberg reported that the iPhone maker had hoped for the foldable phone to come out in 2026, but thanks to “engineering challenges tied to weight, features and display technology” customers will have to wait a few years longer.

For what it’s worth, as is the case with its upcoming touchscreen MacBook Pro, many of Apple’s competitors, including Samsung and Google, already have foldable phones.

Apple’s Planned Foldable iPad With 18-inch Screen Hits Development Snags

Apple’s Planned Foldable iPad With 18-inch Screen Hits Development Snags

For what it’s worth, as is the case with its upcoming touchscreen MacBook Pro, many of Apple’s competitors, including Samsung and Google, already have foldable phones.

tech

Warner Bros. Discovery just raised the price of HBO Max

Warner Bros. Discovery, which announced today it’s open to being bought, also said it’s raising prices on its HBO Max streaming subscribers.

Effective immediately for new customers and at the next renewal date for existing ones, subscribers to the ad-supported tier will pay an extra dollar a month ($10.99) and those who don’t want ads will see prices go up $1.50 a month (to $18.49). It joins the ranks of Disney, Apple, and NBC Universal, which also recently raised prices. WBD is also reportedly cracking down on password-sharing.

Here’s how the prices of their services compare now:

HBO Max Raises Prices Across All Plans Effective Immediately

HBO Max Raises Prices Across All Plans Effective Immediately

Here’s how the prices of their services compare now:

tech

Amazon aims to automate 75% of its operations and avoid hiring 600,000+ people

Amazon might be one of few companies hiring ahead of the holiday season, but the e-commerce giant hopes to limit headcount additions in the years ahead as it leans more deeply into automation, according to The New York Times’ interviews and a survey of internal documents.

Some numbers from the report:

Amazon thinks robots can help it forgo hiring more than 160,000 people in the US by 2027.
That would mean $0.30 in savings on each item that Amazon sells.
The company would ultimately like to automate 75% of its operations.
Automation could potentially lessen its hiring of humans by more than 600,000 by 2033.
It expects to sell 2x as many products in 2033.
Currently Amazon employs 1.2 million people.

Happy holidays!

Inside Amazon’s Plans to Replace Workers With Robots

Inside Amazon’s Plans to Replace Workers With Robots

Amazon thinks robots can help it forgo hiring more than 160,000 people in the US by 2027.
That would mean $0.30 in savings on each item that Amazon sells.
The company would ultimately like to automate 75% of its operations.
Automation could potentially lessen its hiring of humans by more than 600,000 by 2033.
It expects to sell 2x as many products in 2033.
Currently Amazon employs 1.2 million people.

Happy holidays!

Jon Keegan, Matt Phillips

Alibaba researchers devise efficient GPU pooling system, reducing GPU use 82%

Drastically reducing the amount of GPUs needed for running AI models could have big consequences for the scale of huge data centers, while benefiting smaller organizations. It also could reduce demand for pricey new GPUs from Nvidia.

Blue and Orange 3D Cubes Representing Interconnected AI Systems and Digital Transformation

tech

Rani Molla10/20/25

Apple closes at record high for first time in 2025

After spending the day at intraday highs, Apple set an all-time closing high of $262.24 Monday, following reports of increased iPhone 17 sales and an analyst upgrade. Loop Capital raised its price target to a Street high of $315.

The stock’s previous all-time closing high was in December 2024.

Apple reports its fiscal year 2025 results later this month, during which analysts expect the company’s all-important iPhone sales to return to growth.

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