🌏 OpenAI’s bonanza of billions

Was this newsletter forwarded to you? Sign up here Quartz October 2, 2024 The logo for OpenAI's ChatGPT reflected in a user's glasses Illustration: AP (Frank Rumpenhorst/picture-alliance/dpa) Good morning, Quartz readers! HERE’S WHAT YOU NEED TO KNOW OpenAI is worth $157 billion now. The artificial intelligence startup raised $6.6 billion to achieve that valuation, one of the largest private funding rounds ever. Costco is going platinum. The big-box retailer is adding platinum to its precious metal offerings alongside gold and silver. The wheels continue to come off at Stellantis. Amid plunging sales, the automaker says it will “take the necessary actions” to reverse what its CEO called an “arrogant” trail of missteps. Nike is feeling very uncertain about its future. The slumping sneaker giant withdrew its full-year guidance and is pushing back an investor day as it plots a turnaround. People are getting excited to buy houses again. Mortgage applications are creeping up after months of decline in anticipation of lower interest rates. Veep onboard with strike at ports Though Joe Biden has been clear in his support for striking longshoremen at East and Gulf Coast ports, his vice president’s position was less clear. On Wednesday, Kamala Harris clarified that she’s standing behind the work stoppage as well. In a statement, the Democratic nominee for president said that “this strike is about fairness” in a full-throated endorsement. She contrasted her commitment to Donald Trump’s, who has argued in support of workers negotiating rights but not the strike explicitly. How are the presidential candidates dealing with this massive October surprise? Quartz’s William Gavin breaks down where they stand on the port strike. Small print causes big headache A couple’s Uber driver ran a red light in 2022 and sent them to the hospital with extensive injuries. When they tried to sue, Uber appealed a ruling that found it at fault and successfully blocked their legal action. The case turned on the couple’s 12-year-old allegedly accepting the app’s mandatory-arbitration terms and conditions while ordering a pizza; Uber said it was actually one of the plaintiffs. Monetary damages in arbitration tend to be less than what is awarded in a courtroom. Where else have arbitration clauses surprised aggrieved corporate customers? Quartz’s The Onion Gil explains how closely you should read the fine print. MORE FROM QUARTZ ⚓ Walmart, Target, and eight other major U.S. importers anxiously watching the port strike 📺 Spectrum’s parent company would rather you stream on their dime than cut your cable cord 🧑‍🎓 These college majors mint the most millionaires 💍 Here’s where a wedding is more expensive than the down payment on a house 🥊 Google’s rivalry with OpenAI just hit a reasonable new level 🗑️ This everyday product faces rot risk during the port strike SURPRISING DISCOVERIES Hurricane Helene dumped the equivalent of Lake Tahoe on the South. The storm’s flooding was as bad as it was because it unleashed 40 trillion gallons of water. Millennial women might quit their jobs instead of dealing with menopause at work. A survey says 70% of the generation would change their work situations when they experience The Change. (paywall) Betting on the election is totally legal. A federal appeals court said a derivatives platform was in the clear to offer “Congressional Control Contracts.” Ancient Egyptians used to use clearing nuts to filter their water. Humans have been cleansing their hydration for millennia. There’s a Belgian house so cool that a law was passed to give people a peek. The family feuding over the dormant Palais Stoclet in Brussels might have to open it up because its upkeep has received so much public funding. (paywall) Did you know we have two premium weekend emails, too? One gives you analysis on the week’s news, and one provides the best reads from Quartz and elsewhere to get your week started right. or give membership as a gift! Our best wishes on a safe start to the day. Send any news, comments, fine print, and clearing nuts to [email protected]. Today’s Daily Brief was brought to you by Melvin Backman and Harri Weber. 🌐 View or share this email online. 📬  Check out our emails caret 👀  Read Quartz’s latest stories caret Quartz  |   |  1290 Avenue of the Americas, New York, NY 10104 © 2024 G/O Media Inc.