PRIVATE EQUITY
Microsoft Looking to Invest in OpenAI
If you’re an AI geek, you probably already know about OpenAI and it’s ChatGPT product. (I’ve been playing with it for a couple of weeks now and it’s pretty jaw-dropping).
Microsoft is looking to make a splash by investing approximately $10B in OpenAI, which would give Microsoft 49% ownership. The plan is to integrate OpenAI’s tools into Bing search.
BANKING
Goldman Sachs to Cut 3,200 Jobs This Week
Goldman Sachs didn’t want to be left out of the massive banking layoffs that Morgan Stanley, Citi, Barclays and Credit Suisse were participating in, so they have 3,200 job cuts planned this past week, mostly from the trading & banking departments.
BANKING
Santander to Launch Buy-Now-Pay-Later for Corporates
The upward trend of buy-now-pay-later (BNPL) is now not just for consumers. Santander has launched a B2B buy-now-pay-later targeted at multinational corporates.
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