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Market Daily Report: Bursa Malaysia Ends Higher On Positive Sentiment, CI Up 0.83 Pct

KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia closed higher today, buoyed by supportive local economic policies, positive sentiment from strong technology stocks earnings, and a favourable United States (US) market outlook, an analyst said. Add to that, Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.0 per cent is poised to encourage domestic spending and investment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and subsequently hit a low of 1,623.52 in early trade before trending upwards toward the closing session. Market breadth was positive, with advancers trumping decliners 849 to 352, while 428 counters were unchanged, 765 untraded, and nine suspended. Turnover expanded to 3.39 billion units
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OpenAI Explores For-Profit Shift Amid Talks with Regulators

 

OpenAI, the creator of ChatGPT, is advancing its plans to transition from a non-profit to a for-profit model by engaging in discussions with regulators, including California and Delaware attorneys general. This shift, if approved, could attract more investors but raises questions about preserving its original mission of AI for social good.

Key Points:

  • Non-Profit to For-Profit Conversion: OpenAI’s proposed transition includes becoming a public benefit corporation, allowing for-profit operations while maintaining its social mission. The non-profit would retain a stake in the new structure.
  • Regulatory Discussions: OpenAI is preparing to submit restructuring plans for regulatory review. Approval hinges on valuing its valuable intellectual property (e.g., ChatGPT) and ensuring assets are appropriately allocated to charitable purposes.
  • Financial Implications: Recent funding could convert to debt if OpenAI doesn’t transition within two years, per the New York Times.

This conversion could reshape OpenAI’s approach to both innovation and investor expectations, underscoring the complexities of monetizing advanced AI technology responsibly.

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