FT News Briefing US stocks make full recovery
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May 6, 2025 OpenAI decides to remain a non-profit, reaffirming its mission amid scrutiny. U.S. stocks bounce back from turmoil following tariff announcements, driven by a strong labor market. Tensions surround the upcoming Bank of England meeting as interest rates are expected to be cut. Meanwhile, legal challenges loom for Meta, testing the boundaries of AI training with copyrighted material. This courtroom drama could redefine copyright implications for tech companies and authors alike, amid a shifting landscape in AI law.
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OpenAI Stays Non-Profit
- OpenAI decided to remain a non-profit to stay focused on its mission to benefit humanity through AI.
- CEO Sam Altman emphasized mission obsession over external pressures like those from Elon Musk.
US Stocks Recover Amid Tariff Hopes
- US stocks recovered from a sharp drop following Trump's tariff announcement, driven by resilient labor market data.
- Hope for resolved trade deals and tariff reductions supports optimism despite ongoing uncertainty.
Political Headlines Drive Market Volatility
- Political headlines now impact markets more than earnings or economic data under Trump's presidency.
- This leads to increased market volatility and uncertainty, with investors guessing political implications.