TheStreet’s J.D. Durkin brings you the biggest news of the day, including a lookahead to what’s on tap for this week’s earnings reports and Microsoft making a splash in the AI sector.
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00:00 I'm JD Durkin reporting from the floor of the New York Stock Exchange and here is a
00:03 look at what we are watching on the street today.
00:06 Stocks are coming off a three-week winning streak as investors look ahead to a shortened
00:10 trading week.
00:11 Investors will be watching for the last of retail earnings, including results from Nordstrom,
00:16 Kohl's and Best Buy.
00:18 NVIDIA will also be a major focus when it releases results Tuesday.
00:22 The chipmaker saw its stock rise 20 percent this year, its best year yet.
00:27 Turning to tech, just days after being ousted from his CEO position at ChatGPT owner OpenAI,
00:34 Sam Altman now has a new home at Microsoft.
00:37 Altman was tapped by Microsoft to lead a new advanced artificial intelligence research
00:42 team.
00:43 Microsoft CEO Satya Nadella announced the hire on X saying of Altman, "I'm super excited
00:49 to have you join as CEO of this new group, Sam, setting up a new pace of innovation,"
00:54 and that the company looks forward to moving quickly to provide them with the resources
00:58 needed for their success.
01:00 Altman had been the CEO of OpenAI since 2019 but was abruptly relieved of his position
01:05 at a board meeting just last week.
01:08 Joining Altman will be another OpenAI co-founder Greg Brockman, who quit his role as president
01:13 of the company after Altman was let go and is the startup's biggest financial supporter.
01:19 Microsoft is OpenAI's largest stakeholder, having already invested $13 billion in the
01:24 company.
01:25 That will do it for your daily briefing.
01:26 From the floor of the New York Stock Exchange, I'm JD Durkin with The Street.
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