The Rundown Elon Musk Offers to Buy OpenAI for $97B, Coca-Cola Beats Earnings Fueled by Price Hikes
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Feb 11, 2025 Elon Musk makes headlines with a staggering $97 billion offer to buy OpenAI, sparking debates over his motives and the nonprofit's transition to a for-profit model. Meanwhile, Coca-Cola surprises analysts with a sales surge, navigating price hikes while other companies like Shopify struggle. The episode also humorously touches on the economic debate surrounding the production of pennies.
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Positive Market Start
- The stock market started the week positively, with the S&P 500 up 0.7% and NASDAQ up 1%.
- Meta's stock performed exceptionally well, rising for 16 consecutive sessions.
Steel and Aluminum Tariffs
- Trump signed an order imposing a 25% tariff on all steel and aluminum imports, without exceptions for any country.
- This differs from previous tariffs, which had exceptions for countries like Canada, Mexico, and the EU.
Musk's Bid for OpenAI
- Elon Musk offered to buy OpenAI for $97.4 billion, which is seen as a strategic move.
- This offer comes from Musk's AI company, XAI, and is backed by figures like Joe Lonsdale and Ari Emanuel.