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OpenAI’s $86 billion share sale in jeopardy after Altman firing, The Information reports

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OpenAI’s  billion share sale in jeopardy after Altman firing, The Information reports

OpenAI logo is seen in this illustration taken, February 3, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights

Nov 18 (Reuters) – A planned sale of OpenAI employee shares that would value the startup at about $86 billion on paper hangs in the balance after the sudden firing of CEO Sam Altman and a slew of top executive departures, the Information reported on Saturday.

The tender offer, which Thrive Capital is leading, has not yet closed but has been in its final stages and was expected to be completed as soon as next month, the report added, citing a person familiar with the matter.

OpenAI and Thrive Capital did not immediately respond to Reuters’ requests for comment.

The news comes after the board of the company behind ChatGPT fired Altman on Friday.

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Greg Brockman, OpenAI president and co-founder, who stepped down from the board as chairman as part of the management shuffle, quit the company.

The departures blindsided many employees who discovered the abrupt management change from an internal message and the company’s public facing blog.

Backed by billions of dollars from Microsoft (MSFT.O), which does not have a board seat in the non-profit governing the startup, OpenAI kicked off the generative AI craze last November by releasing ChatGPT.

Reporting by Gursimran Kaur in Bengaluru; Editing by Daniel Wallis

Our Standards: The Thomson Reuters Trust Principles.

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North Korea launches short-range ballistic missile hours before US election

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North Korea launches short-range ballistic missile hours before US election

Just hours before the U.S. election, North Korea was reported to have fired at least one ballistic missile into its eastern sea. 

It remains unclear whether North Korea fired only one missile or multiple. It is also unclear what type of missile it was or how far it flew. 

The launch came days after North Korean leader Kim Jong Un supervised a flight test of the country’s newest intercontinental ballistic missile designed to reach the U.S. mainland. In response to that launch, the United States flew a long-range B-1B bomber in a trilateral drill with South Korea and Japan on Sunday in a show of force. 

North Korea claimed last week that the Hwasong-19 it tested last Thursday was “the world’s strongest” ICBM, but experts say the solid-fuel missile was too big to be useful in a war situation. Experts say the North has yet to acquire some critical technologies to build a functioning ICBM, such as ensuring that the warhead survives the harsh conditions of atmospheric re-entry.

DOCUMENTS REVEAL RUSSIA’S INITIAL ‘PEACE DEAL’ EQUATED TO THE SURRENDER OF UKRAINE: REPORT

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A soldier stands at a North Korean military guard post seen from Paju, South Korea, June 26, 2024. (AP Photo/Lee Jin-man)

South Korean officials have warned that the North was likely to ratchet up military displays around the U.S. presidential elections to command the attention of Washington. 

South Korea’s military intelligence agency said last week that North Korea has also likely completed preparations for its seventh nuclear test.

North Korea leader in a leather jacket

North Korean leader Kim Jong Un, left, supervises artillery firing drills on March 7, 2024. (Korean Central News Agency/Korea News Service via AP)

Tensions between North and South Korea have been at all-time highs in recent months as Kim has repeatedly flaunted his expanding nuclear weapons and missile programs while providing Russia with munitions and troops to support President Vladimir Putin’s war in Ukraine.

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In response to North Korea’s growing nuclear threats, South Korea, the United States and Japan have been expanding their combined military exercises and updating their nuclear deterrence plans built around U.S. strategic assets.

The Associated Press contributed to this report.

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Musk’s $1m US voter giveaway can continue, Pennsylvania judge rules

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Musk’s m US voter giveaway can continue, Pennsylvania judge rules

The state’s top Democratic legal official says the giveaway in states likely to decide the US election is a ‘scam’.

A $1m-a-day voter sweepstakes operated by a political group established by billionaire Elon Musk can continue, a judge in the state of Pennsylvania has ruled.

Last month, the world’s richest man announced he would start the giveaway in seven battleground states likely to decide the outcome of the United States 2024 election.

Musk’s giveaway has widely been seen by many as an unsubtle attempt to secure extra votes for Republican candidate Donald Trump, who Musk has thrown his vocal and financial support behind.

Musk has given $75m to America PAC, a political action committee that has been funding various Republican candidates, including former President Trump.

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Winners ‘not chosen  by chance’

The Tesla CEO has already gifted $16m to registered swing-state voters who qualified for the giveaway by signing his political petition.

Pennsylvania‘s Common Pleas Court Judge Angelo Foglietta’s decision on Monday came after a surprising day of testimony in a state court in which Musk’s aides acknowledged hand-picking the winners of the contest based on who would be the best spokespeople for his super PAC’s agenda.

Previously, the 53-year-old billionaire had claimed the winners would be chosen at random.

District Attorney Larry Krasner, a Democrat, called the process a scam “designed to actually influence a national election” and asked that it be shut down.

As it was, the judge ruled in favour of Musk and his America PAC.

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Musk’s lawyer, Chris Gober, said the final two recipients before the presidential election would be announced in Arizona on Monday and Michigan on Tuesday.

“The $1 million recipients are not chosen by chance,” said Gober.

“We know exactly who will be announced as the $1 million recipient today and tomorrow.”

‘They were scammed’

Chris Young, the director and treasurer of America PAC, testified that the recipients were vetted ahead of time, to “feel out their personality, [and] make sure they were someone whose values aligned” with the group.

Musk’s lawyers, defending the effort, called it “core political speech” given that participants were asked to sign a petition endorsing the US Constitution.

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More than 1 million people from the seven battleground states – Pennsylvania, Wisconsin, Nevada, Arizona, Georgia, North Carolina and Michigan – have registered for the sweepstakes by signing a petition saying they support the right to free speech and to bear arms, the first two amendments to the US Constitution.

District Attorney Krasner has questioned how the PAC might use their data, which it will have on hand well past the election.

“They were scammed for their information,” Krasner said. “It has almost unlimited use.”

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Video: Reaching Rural Voters in North Carolina After Hurricane Helene

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Video: Reaching Rural Voters in North Carolina After Hurricane Helene

new video loaded: Reaching Rural Voters in North Carolina After Hurricane Helene

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transcript

Reaching Rural Voters in North Carolina After Hurricane Helene

Ahead of Election Day, canvassers knocked on voters’ doors in Ashe County in storm-ravaged Western North Carolina.

“What we know is that North Carolina is a dead heat right now. So the margin of victory is going to come from rural voters. You’ve got to get to where people are at, and this is rugged mountain turf. So sometimes the bridge is out to access the home, and you’ve got to go down and across the creek and up the other side to find out if the voter’s there. Sometimes, we’ve hit addresses where the house is gone and we’re finding people in tents.” “Hello, hello. Hi, my name is Bailey and this is Ibi. We’re from Down Home North Carolina. How did you, how did you do in the storm? It looks kind of hard around here.” Yeah, the water was up past these trees when it — and you see what happened to the car.” “And have you made plans to vote? Are you going to vote?” “I was actually able to go last Monday, so I did. Yeah, I was able to get in.” “Did your housemates also vote already as well?” “So they still need too. So trust me, I’m pushing on them. And my son, who’s in Greensboro, to make sure he gets in.” “Ashe County, it wouldn’t be where you would traditionally expect political efforts to be active at this phase in the campaign because it is so heavily a Republican county. And yet, we know every vote counts the same. So we’re really motivated to make sure that we end up with representatives all up and down who represent working-class people and are going to do what’s required to help rebuild Western North Carolina.”

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