OpenAI plans new Tokyo office as Tesla layoffs arrive
Equity is back with two critical headlines this morning. First, OpenAI is going to Japan with plans for an office in Tokyo and a new GPT-4 model for the Japanese language. Given that the US, the EU, and China are all racing for leadership in AI, OpenAI’s expansion into the Japanese market could expand the list of leading blocs and nations. The second critical piece of news this morning comes from Tesla, which is cutting more than 10% of its total global staffing. The company told employees the cuts were due to role duplication, but with the company also cutting prices and seeing its growth ebb, demand concerns are being discussed as a partial driver for the cost cutting. And there’s lots more going on: The upcoming Rubrik IPO is leaking early pricing ranges, ShareChat’s valuation is taking hits, and global smartphone sales are picking up. To work!