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Good morning! Here is the latest in trending:
Sweetened offer: Warner Bros. Discovery (WBD) received a mostly cash offer from Netflix (NFLX), which is arranging a bridge loan worth tens of billions of dollars for its bid.
Tariff refund: Costco (COST) sued the U.S. government to ensure it gets a full refund of tariffs if the Supreme Court rules against President Trump’s levies.
Stock warning: Big Short investor Michael Burry called Tesla (TSLA) “ridiculously overvalued,” warning that Elon Musk’s $1T pay plan would worsen shareholder dilution.
Competition in the artificial intelligence race is intensifying, and it looks like OpenAI (OPENAI) is feeling the heat. The AI startup’s CEO Sam Altman has declared a “code red” effort to improve the quality of ChatGPT, The Wall Street Journal reported, citing an internal memo.
Doubling down: Altman said OpenAI has more work to do to improve ChatGPT’s personalization features, speed, reliability and capabilities to answer a wider range of questions. As a result, the company will push back work on other initiatives, such as advertising, AI agents for health and shopping, and personal assistant Pulse. “Our focus now is to keep making ChatGPT more capable, continue growing, and expand access around the world — while making it feel even more intuitive and personal,” Nick Turley, head of ChatGPT, posted on X.
Bigger picture: OpenAI’s memo comes as other companies have been catching up to ChatGPT, narrowing the three-year-old chatbot’s lead in the AI race. Google (GOOG) (GOOGL) recently released a new version of its AI model – Gemini 3 – which surpassed OpenAI in benchmark tests and drew widespread praise. Gemini currently has over 650M monthly active users, up from 450M in July. ChatGPT has more than 800M weekly users. (6 comments)
Another AI rival Anthropic (ANTHRO) is set to turn a profit more quickly than OpenAI. Anthropic expects to break even for the first time in 2028, while OpenAI’s target is for 2030. Meanwhile, China’s DeepSeek (DEEPSEEK) just launched two new AI models, which topped or matched the results of OpenAI’s GPT-5 and Google’s Gemini 3 Pro in some benchmarks. But with Gemini quickly capturing generative AI market share, Investing Group Leader Stone Fox Capital believes Google has much more favorable odds to catch up to OpenAI.
Here’s the latest Seeking Alpha analysis
The 7 Biggest S&P 500 Stocks Might Be All We Need.
Nvidia: Too Many Red Flags (Rating Downgrade)
Alphabet Has Won
Nebius: This Decline Might Be A Lifetime Opportunity
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What else is happening…
WSB survey results: Major yen carry trade unwind may be ahead.
Nvidia invests $2B in Synopsys (SNPS) in expanded partnership.
Credo (CRDO) soars as Q2 results, guidance blow past estimates.
Amazon (AMZN) unveils array of new partnerships at re:invent 2025.
Vaccine stocks fall after FDA official’s comments on future approvals.
U.K. to pay 25% more for new U.S. drugs to avoid pharma tariffs.
Strategy (MSTR) establishes $1.44B USD reserve amid crypto rout.
Fed: Most banks held capital well above regulatory requirements in Q2.
Barrick (B) to evaluate potential IPO of North American gold assets.
Cyber Monday sets new record as discounts, genAI boost conversions.
Today’s Markets
In Asia, Japan flat. Hong Kong +0.2%. China -0.4%. India -0.6%.
In Europe, at midday, London +0.4%. Paris +0.5%. Frankfurt +0.7%.
Futures at 6:30, Dow +0.2%. S&P +0.3%. Nasdaq +0.4%. Crude -0.3% to $59.13. Gold -1.3% to $4,221.40. Bitcoin +1.2% to $87,415.
Ten-year Treasury Yield unchanged at 4.10%.
On The Calendar
Companies reporting today include CrowdStrike (CRWD) and Marvell Technology (MRVL).
See the full earnings calendar on Seeking Alpha, as well as today’s economic calendar.
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