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Bloomberg

OpenAI Hits Back at Growth Fears, Says 'Firing on All Cylinders'

OpenAI pushed back against concerns over its sales growth on Tuesday, saying its consumer and enterprise businesses are "firing on all cylinders" despite a report about the AI startup missing internal targets. The ChatGPT creator said it continues to see growth in demand from business customers and its nascent advertising business. "The mood internally is incredibly positive," the company said in a statement. The Wall Street Journal reported late Monday that OpenAI had fallen short of several internal targets as rivals gained ground. OpenAI described the report as "prime clickbait." Rudina Seseri, Glasswing Ventures Founder & Managing Partner joined to discuss on Bloomberg Businessweek Daily.

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Bloomberg

Canada Launches Sovereign Wealth Fund for Major Projects

Canada will create its first sovereign wealth fund to provide financing for large infrastructure projects and domestic companies, Prime Minister Mark Carney said, pledging to offer Canadian investors the opportunity to buy in. The new vehicle, dubbed the Canada Strong Fund, will be seeded with C$25 billion ($18.4 billion) from the federal government, Carney announced Monday in Ottawa. It will be professionally managed and independent of the government, meant to "invest alongside the private sector in nation-building projects, on a fully commercial basis," he said.  Peter Bethlenfalvy, finance minister of Canada's Ontario Province joined Balance of Power to discuss, the Iran war's impact on energy markets and efforts by governments to counter it.

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Bloomberg

Formula 1 May Reschedule One Middle East Race Canceled Due to Iran War

Speaking with Bloomberg's Francine Lacqua at the Norges Bank Conference in Oslo, Formula 1 Chief Executive Officer Stefano Domenicali talks about the possibility of adding more races in the US. He says the demand from fans is very high. He also says it may only be possible to reschedule one of two races in the Middle East that were canceled earlier this season.

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