OpenAI Fires Back at Elon Musk | Canada and US Tariff | Global M&A $3.5 Trillion Value

December 14, 2024

Market Update

  • Friday the 13th ends with flat S&P 500.

  • Elon Musk claims SEC has given him 48 hours to settle alleged securities violations.

  • MicroStrategy secures Nasdaq-100 inclusion after bitcoin-fueled stock surge.

  • Apple CEO Tim Cook to meet with Trump on Friday.

OpenAI fires back at Elon Musk bid to block for-profit conversion

Legal Battle: OpenAI is fighting Elon Musk's attempt to block its conversion to a for-profit company.

Email Evidence: OpenAI published emails showing Musk initially supported the for-profit model before leaving after not getting majority control.

Competing Interests: Musk has launched a rival AI company, xAI, and added Microsoft as a defendant in his lawsuit.

Court Hearing: A judge is scheduled to hear arguments on Musk's injunction request on January 14. [Learn more]

Canada says it will respond robustly if US imposes tariffs

Canada's Response: Canada is preparing to respond robustly to potential tariffs threatened by the incoming U.S. President Donald Trump.

Retaliatory Tariffs: Canada is considering imposing export taxes on key commodities like uranium and oil if the U.S. imposes sweeping tariffs.

Energy Threat: Ontario Premier Doug Ford has threatened to cut off energy exports to the U.S. if tariffs are imposed.

Trade Relationship: The U.S.-Canada trade relationship is significant, with energy and metals comprising a large portion of this trade. [Learn more]

Global M&A deal value will hit ‘middling’ US$3.5 trillion by end-2024: Bain

Deal Value Projection: Global M&A deal value is projected to reach $3.5 trillion by the end of 2024.

Year-over-Year Growth: This represents a 15% increase compared to last year.

Deal Volume: The global M&A deal volume is expected to climb 7% year over year, reversing a two-year decline.

Market Conditions: Persistently high interest rates have made strategic acquirers more selective, impacting dealmaking dynamics. [Learn more]

Joke of the Day!

What do you call a cheese that’s not yours?

Nacho Cheese

Generative AI Photo of the Day!

Credit: DALL-E 3

Prompt: A delightful scene with a cute, anthropomorphic nacho cheese character. The nacho cheese is personified with big, sparkling eyes and a friendly smile. It's dressed in a tiny chef's hat and apron, holding a mini ladle dripping with warm, gooey cheese. Surround the character with an inviting platter of colorful tortilla chips, fresh guacamole, and salsa. The background features a playful kitchen setting with cheerful decorations like smiling ingredients and kitchen utensils. Add a touch of whimsy with a tiny sombrero hanging on a nearby hook and festive fairy lights twinkling overhead. The overall vibe is warm, friendly, and irresistibly charming.

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