In today’s episode, Zaid covers: OpenAI&#x27;s revenue doubles to $40 billion right as top executives head for the exits ahead of a IPO Nintendo shares jumping after Pokémon Pokopia sold more than 5 million copies in just over four months Reddit joining the S&amp;P 500, while Applied Materials falls despite strong earnings and guidance How the New York Knicks’ championship run generated nearly $67 million in additional playoff-related revenue

OpenAI’s Revenue Hits $40B, Reddit to Join the S&P 500

The Rundown

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Friday, August 14th. In today's episode we'll break down the good and bad news coming out of OpenAI. We'll also tell you why Nintendo is getting a boost from Pokemon. Then stick around to the end of the show to find out how much money the Knicks made

from their championship run this summer. We got a great show for you today. Let's go. Well guys, the stock market is officially back at record highs. The S&P 500 jumped 0.7% yesterday, hitting a record high. This was the S&P's 27th record close of the year. The Nasdaq also had a strong day, rising 0.8%. Now the reason for this rally is that inflation is cooling. We covered the CPI and PPI

reports this week, both coming in below expectations. And those two reports are now changing the conversation on what the Federal Reserve might do with interest rates. Now, not too long ago, there was real chatter that the Fed could start hiking rates at the September meeting because inflation was heating back up from higher energy prices due to the Iran war. You know, Fed chair Kevin Warsh was talking tough on inflation in both of the Fed meetings so far under his tenure. But now the market seems to think the Fed might hold off on hiking rates until later in the

year. And that could also be the reason why AI stocks are surging right now. The stock semiconductor index has gone up almost 20% since its lows from July. And you know, Nvidia has gone up almost 20% as well.

OpenAI’s Revenue Hits $40B, Reddit to Join the S&P 500

Read the full transcript

The candid version is on a podcast,
not the earnings call.

OpenAI’s Revenue Hits $40B, Reddit to Join the S&P 500

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.