Fortune

OpenAI has?announced?a much-anticipated new family of AI models that can solve difficult reasoning and math questions better than previous large language models. On Thursday, it launched a “preview” version of two of these models, called o1-preview and o1-mini, to some of its paying users. AI with improved reasoning and math skills could help chemists, physicists, and engineers work out answers to complex problems, which might help them create new products. It could also help investors calculate options trading strategies or financial planners work through how to construct specific portfolios that better trade off risks and rewards. But o1-preview is still tripped up by?some riddles?and in OpenAI’s own assessments, it sometimes failed at seemingly simple tasks. Read more: https://lnkd.in/ePCDqSPV

A strike?by some 33,000?Boeing?machinists has halted production of the American aerospace giant’s best-selling airplanes. The workers began picketing at Boeing factories and plants in Washington, Oregon and California on Friday after?rejecting a contract offer?their union negotiated and endorsed. The work stoppage will not immediately impact commercial flights but could still bring significant losses for the company, which is headquartered in Arlington, Virginia, but has its roots in the Seattle area, where it makes most of its planes for airlines.?Boeing?is already dealing with a battered reputation and financial struggles that have piled up over recent years. Boeing stands to lose a lot of cash, at least in the short term. Based on the length of past Boeing strikes — the last two were in 1995 and 2008 — TD?Cowen?aerospace analyst Cai von Rumohr says it’s realistic to think the current walkout could last into mid-November, when workers’ $150 weekly payments from the union’s strike fund might seem low going into the holidays. A strike that long would cost Boeing up to $3.5 billion in cash flow, as the company gets about 60% of the sale price when it delivers a plane to the buyer, von Rumohr added. The eight-week strike in 2008 cost the company about $100 million daily in deferred revenue. Read more: https://lnkd.in/g76n-6vH

“I have not stepped down as OpenWeb’s CEO.” Samsung-backed billion-dollar tech company OpenWeb has just announced a new CEO. The only problem? Its founder, Nadav Shoval, is refusing to step down from the top job. Earlier this week, OpenWeb’s board announced Shoval was being replaced by the content moderation platform’s chairman, Tim Harvey—and the news didn’t go down with its current leader, who went on to blast his bosses and deny the transition in an email to all staff. The Israeli tech entrepreneur then continued his rant publicly on LinkedIn, where he claimed that he had been sacked for calling out “concerning conduct” and that he does not “accept” his removal. Read more: bit.ly/4gq8mMU

Intel?Corp. has officially qualified for as much as $3.5 billion in federal grants to make semiconductors for the Pentagon, according to people familiar with the matter, after the chipmaker reached a binding agreement with US officials. The secretive program, called Secure Enclave, seeks to establish production for advanced chips with military and intelligence applications. It spans multiple states, including a manufacturing facility in Arizona. Read more: https://lnkd.in/g8JREgDU

The family behind luxury brand?Chanel?and the billionaire heiress of L’Oreal have bought a stake in the fashion label?The Row, founded by the Olsen sisters. The Wertheimer brothers, via their family office?Mousse Partners, and Francoise Bettencourt Meyers’ family vehicle, Tethys Invest, have bought a minority stake in the fashion brand, according to people familiar with the situation, who asked not to be named discussing matters that aren’t public. Imaginary Ventures, co-founded by fashion entrepreneur Natalie Massenet, and Saint Dominique Capital, a fund backed by businesswoman Lauren Santo Domingo, are also investing in the label, people familiar with the matter said. The transactions value the company at about $1 billion, the people said. Read more: https://lnkd.in/g4v9kqyr

OpenWeb, a Samsung-backed billion-dollar tech company, has just announced a new CEO. The only problem? Its founder, Nadav Shoval, is refusing to step down from the top job. Earlier this week, OpenWeb’s board announced Shoval was being replaced by the content moderation platform’s chairman, Tim Harvey—and the news didn’t go down with its current leader, who went on to blast his bosses and deny the transition in an email to all staff. The Israeli tech entrepreneur then continued his rant publicly on?LinkedIn, where he claimed that he had been sacked for calling out “concerning conduct” and that he does not “accept” his removal. “I have not stepped down as OpenWeb’s CEO,” Shoval?wrote?on the networking platform. Read more: https://lnkd.in/eDuKpgah

As many Americans continue to struggle to find housing—whether due to high mortgage rates, high home prices and rents, or low inventory—some of the youngest and wealthiest homeowners and renters have made moves. Affluent Gen Zers and millennials aged 26 to 35 relocate for better jobs and lifestyles, plus tax advantages that some states offer. “They want to know how far their dollar will go,”?Traci Wilson, a real estate agent with?Engel & V?lkers?in Austin, Texas, told?Fortune. “With rising inflation around the world, every penny matters. Can they build a lifestyle that continues to grow their business and quality of life? Can they see raising a family and being able to provide a life that will set them up for success? These are the questions young wealthy people are asking themselves as they decide where to lay down roots.” https://lnkd.in/e2dHrDqd

American billionaire Jared Isaacman conducted the first commercial “spacewalk” hundreds of miles above the surface of the Earth. Isaacman, along with SpaceX engineer Sarah Gillis, briefly experienced the vacuum of space to test the company’s new spacesuits during the five-day Polaris Dawn mission. “Back home we have a lot of work to do, but from here Earth sure looks like a perfect world,” Isaacman said as he looked down on the planet from space. But who is Isaacman, and how did he, among all the space-curious billionaires, become the first to make history with his spacewalk? Read more: bit.ly/4e1981f

The boss of Hewlett-Packard has defended his company’s decision to continue to pursue Mike Lynch for $4 billion through his family after the tech mogul died in August. Lynch died alongside his 18-year-old daughter Hannah last month when the?Bayesian?superyacht he was on ran into a storm and sank within minutes. He was survived by his wife, Angela Bacares, and his other daughter. In addition to millions of dollars in assets, Lynch left behind the remnants of a multibillion-dollar civil suit in the U.K. that was set to be concluded later this year after a judge ruled Lynch was likely aware of accounting fraud related to HP’s $11.7 billion acquisition of Autonomy. There was speculation that HPE would choose not to continue its pursuit of Lynch posthumously, owing to the potential for negative press from such a pursuit. Read more: https://lnkd.in/e2Hxaazt

“I’ve gotten up before the sun comes up for 20 years or more.” Pressed Juicery CEO Justin Nedelman wakes up at 4:15 a.m. each morning without fail—and without the chime of an alarm. Nedelman loves being awake in the dim morning hours when the rest of the world feels paused. “I don’t know how you could ever run a wellness brand without pursuing wellness every day—mental, physical, spiritual, whatever that may be,” he says. Read more: bit.ly/4cXWJty