Tag Archives: NYT

How did a successful, financially sophisticated banker gamble his community’s money away?

Some tech companies are delaying or pulling their listing plans as the Trump administration’s tariff announcements and other changes cause market volatility and uncertainty.

The Silicon Valley giant is trying to cut a deal it hopes would help it pull out of a yearslong slump.

Bret Taylor, the chairman of OpenAI’s board, said the artificial intelligence company was “not for sale.” Mr. Musk and other investors had offered $97.4 billion earlier this week.

The popular social media app was removed to comply with a new law that banned it in the United States. President Trump has paused enforcement of the ban.

The social media company is attracting investor interest because of Elon Musk’s close ties to President Trump and a recent jump in revenue.

In a court filing, Mr. Musk said he and other investors would pull their $97.4 billion bid if OpenAI withdrew its plan to change its structure.

The social media site agreed to pay in the range of $10 million to settle with the president, who had sued over the suspension of his account in 2021.

The company answered the billionaire’s offer in a legal filing, accusing him of hypocrisy.

The Silicon Valley giant said it made the change last year because it was difficult to keep up with every occasion, but some users questioned the decision.