Alternative Investing Report - February 12, 2025
Vincent Alternative Investments
Keep up-to-date on the latest alternative investing news and insights in less than 5 minutes per week.
Happy Wednesday. The AI Action summit came to a close, the CFPB could be shuttered, apartment rents rose in January, and an OG cryptocurrency had a good week. Let’s dive in!
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?? DAILY MARKETS
?? AI ACTION SUMMIT
This week’s AI Action Summit in Paris brought together world leaders and industry experts in an effort to build global consensus on issues surrounding the sector. While some major agreements were made and initiatives announced, the dominant story was the US and UK refusing to sign a declaration on “inclusive and sustainable” AI that was signed by 60 countries, including France, Japan, China, and India. Vice President J.D. Vance also gave a speech attacking the EU’s regulatory approach to AI and emphasizing the U.S.’s commitment to being the industry’s global leader.
领英推荐
? TAKEAWAY: As China’s DeepSeek and other non-American startups become more prominent, there has been a geopolitical shift towards competition rather than cooperation. American AI startups had to like what they heard from the summit, as it seems clear the current administration is less concerned about the safety of AI than establishing global dominance over the sector.
?? NOTABLE NEWS
?? Rents inching up: U.S. apartment rents went up 0.16% and apartment occupancy rose to 94.9% in January, a good turnaround after declines at the end of 2024. Detroit, Chicago, and Kansas City saw the highest year-over-year rent growth, while Austin, San Antonio, and Phoenix saw the biggest declines.
?? Elon Musk’s OpenAI offer: In a move likely tied to his ongoing litigation against the company, Musk offered to buy the AI startup for $97.4 billion, well below the $300 billion valuation from their latest rumored funding round. Musk’s move puts pressure on founder Sam Altman, who is trying to restructure the company from non-profit to for-profit and will have to agree to a transition price, which has been reported to be far less than Musk’s offer.