Transcript:
CONWAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
A week filled with angst ended with smiles across Wall Street after a tame inflation report brightened the mood. Data released Friday showed prices easing closer towards the Federal Reserve’s 2-percent inflation target. The report sets the stage for the Fed’s two-day policy meeting next week. Trading will also be dictated by the latest employment report and the biggest earnings week yet. McDonald’s, Microsoft, Meta, Apple, and Amazon are some of the names to watch.
In other news: OpenAI is launching an AI-powered search engine called SearchGPT to go head-to-head with Google. It will also compete with Microsoft’s Bing, even though Microsoft is OpenAi’s biggest partner.
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SearchGPT is on a trial run with a small group of users, with plans to eventually incorporate some of its functionality into future versions of ChatGPT.
OpenAI describes SearchGPT in a blogpost as “a prototype of new search features designed to combine the strength of our AI models with information from the web to give you fast and timely answers with clear and relevant sources.”
Learning from past mistakes, OpenAI is getting publishers on board early in the process. News Corp and The Atlantic have both signed on as publishing partners.
SearchGPT will face competition from AI-powered search engines in the works from Google, Microsoft, and Perplexity - an AI search chatbot backed by Nvidia and Amazon founder Jeff Bezos.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I'm Conway Gittens with TheStreet.
