Elon Musk will withdraw his nearly $100 billion bid for OpenAI if it remains a nonprofit

Image source: Wikimedia Commons (Elon Musk) (Open AI logo)

Elon Musk will withdraw his nearly $100 billion bid for OpenAI if it remains a nonprofit. 🛑 Elon Musk says he is prepared to drop his attempt to buy OpenAI if the ChatGPT maker maintains its unusual current structure in which the world’s leading and most valuable AI company is operated by a nonprofit. CNN reports.

📱 AlibabaIntegration: Apple will integrate Alibaba’s AI into iPhones in China, Chairman Joe Tsai says. CNBC reports.

💰 NestleProfit: Nestle reported slightly better than expected annual sales growth on Thursday, driven by price increases, but the world's largest packaged food company warned of a narrower profit margin in 2025. Yahoo Finance reports.

🕹️ PS5Power: Sony raises full-year forecasts after solid PlayStation 5 sales in the holidays. CNBC reports.

🚗 AllianceEnd: Nissan projects an annual loss as it drops its talks with Japan rival Honda. Yahoo Finance reports.

🛜 CiscoClimb: Cisco Systems shares rose 6.4% in premarket trading on Thursday after the company raised its annual revenue forecast on robust demand for its cloud networking gear, while addressing any potential impact from the latest U.S. tariffs. Yahoo Finance reports.

⚙️ SiemensSteady: Siemens will be able to deal with potential tariffs and continued economic uncertainties, CEO Roland Busch said on Thursday, as the engineering company posted better than expected profit. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $PEV: Phoenix Motor
Total gain: +130.22%

2. $PRPH: ProPhase Labs
Total gain: +72.08%

3. $FCPT: Four Corners Property
Total gain: +51.35%

4. $AVGR: Avinger
Total gain: +36.32%

5. $MGOL: MGO Global
Total gain: +35.87%

Is AI Revolutionary or Hype? What If It Is Both?

Silicon Valley investors remain optimistic that artificial intelligence can deliver trillions of dollars in business value, even as they agree that the technology has continued to feed a now yearslong hype cycle.

Even with a longer cycle for AI’s return on investment, some corporate technology leaders say they can’t wait for the technology to get better or prove its longer-term value. At the moment, writing code and customer service have emerged as early areas where AI is paying off, but the transformative changes that will deliver those trillions could remain farther down the line.

📰 Read more

The closing price of the top three market percent gainers trading near or above $3 on February 13.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $AIFF: Firefly Neuroscience
Total gain: +168%
The stock appeared to be moving on no notable news.

2. $SOPA: Society Pass
Total gain: +113%
The stock appeared to be moving on no notable news.

3. $LIPO: Lipella Pharmaceuticals
Total gain: +42.30%
The stock appeared to be moving on no notable news.

Time (ET) / Report / Period

8:30 am - Initial jobless claims - February 8
8:30 am - Producer price index - January
8:30 am - Core PPI - January

“You don’t need to be a genius to trade well. You need to have the right mindset, discipline, and risk management.”

― Jack D. Schwager

Sourced in:
“Hedge Fund Market Wizards: How Winning Traders Win.”, by Jack D. Schwager,
published in 2012.