OpenAI proposes 5% stake to Trump administration to ease Washington pressure: report

Image
OpenAI has proposed handing the U.S. government a 5% stake in the company, the Financial Times reported Thursday, as the artificial intelligence startup seeks to defuse mounting political pressure in Washington. A 5% holding would be worth roughly $42.6 billion, after the AI lab closed a record-breaking funding round in March at a post-money valuation of $852 billion. OpenAI CEO Sam Altman argued that giving the public a financial interest in the company is the best way to share the upside of AI, the FT reported , citing two people familiar with the talks. Altman suggested a stake of that size in early discussions with the Trump administration, as part of a broader arrangement under which Washington would hold 5% of each of the leading U.S. AI developers via a government vehicle, according to the report. The proposed arrangement envisions other U.S. AI companies, such as Anthropic, Google and Meta , ceding similar stakes to the government through a sovereign wealth fund vehicle, the F...

World Cup dreams shattered as StubHub tickets cancelled at last minute leaving fans stranded outside stadiums

Image source, Sergio Enrique Alvarado Montalvo Image caption, Sergio Enrique Alvarado Montalvo, 45, with his family at a watch party in Dallas, Texas By Francisco Velasquez Business reporter Published 31 minutes ago When Sergio Enrique Alvarado Montalvo paid $1,700 ( 1,300) on StubHub to surprise his father with World Cup tickets, he envisioned an unforgettable Father's Day watching Lionel Messi play. Instead, after flying his parents from Mexico to Dallas for the Argentina v Austria match, and spending nearly $6,000 ( 4,600) on travel and hotels, the family was left stranded outside the stadium gates. Just one day before they were set to travel to Dallas, StubHub abruptly notified Montalvo that the seller could not deliver the tickets, refusing to provide comparable replacements due to soaring prices. They turned up at the stadium anyway, hoping they could still get their tickets, with Montalvo on the phone to StubHub up until an hour before kick-off. "I was so sad and so frustrated, and so filled with rage, anger," the 45-year-old told the BBC. "It was a mix of feelings that is hard to explain." Montalvo's nightmare is part of what industry insiders are calling one of the largest ticketing collapses in history. As the 2026 World Cup sweeps across 16 cities the US, Canada and Mexico, many fans are finding their bucket lists ruined by last-minute cancellations on secondary marketplaces. The primary culprit is believed to be an industry practice known as "speculative ticketing", where unverified sellers list tickets they do not yet own, hoping to source them cheaper and closer to the event. When ticket prices soar, these sellers simply back out of the deal to resell them for a higher profit, leaving buyers like Montalvo empty-handed with a refund for their tickets that doesn't cover their expensive travel costs. 'My son was devastated' Eben Pingree, 44, from Boston, faced an identical scenario after his wife Caitlin paid $2,800 on StubHub for tickets to the Scotland v Haiti match to surprise their 11-year-old son Cole. They had co-ordinated an extensive trip with another father-son duo, only for the tickets to vanish on match day. "They basically had to just leave us there, and so my son was just devastated," Pingree told the BBC. Image source, Eben Pingree Image caption, Eben Pingree and his son Cole outside the Boston Stadium Back in Dallas, Montalvo and his family spent their match evening at a local fan festival instead of watching from the stands. "It was a super sad weekend... inside, outside... [but] we enjoyed the time together," Montalvo added. Separately, two World Cup fans have filed a lawsuit against StubHub in a proposed class action on Tuesday, accusing the resale platform of failing to deliver tickets they had paid for. It was filed by Julie Reeker Moghal and Reuben Renteria, who said in a court filings that they were acting on behalf of themselves and all others in a similar situation. The pair said they had paid StubHub at least $1,900 each...

🔥 EXCLUSIVE PARTNER OFFER
GPS Bike Computer IGPSPORT BSC100S Cycle Wireless Speedometer Bicycle Digital Stopwatch Cycling Odometer Cycling Computer

GPS Bike Computer IGPSPORT BSC100S Cycle Wireless Speedometer Bicycle Digital Stopwatch Cycling Odometer Cycling Computer

Special Price

💎 Exclusive offer! The product everyone is talking about is now at a special price.

Affiliate link — Commission earned at no extra cost to you

© EcoNews DZ — Global Economic & Financial News

Comments

Popular posts from this blog

Writing a Thesis or Paper with AI Tools

Xi wants China to boost demand. Why isn’t it working?

7 Best AI Applications to Enhance Scientific Research