Good morning. It's Monday, May 13, and we're covering an OpenAI announcement tease, Eurovision results, and much more. First time reading? Sign up here. |
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OpenAI Teases Announcement |
Artificial intelligence giant OpenAI is expected to reveal a major product update today, which reports suggest may be a search engine positioned to compete with rival Google. The company has made numerous moves suggesting the launch of a search product, though CEO Sam Altman denied it would be announced today, alluding to a separate unspecified project. Watch the livestream here (1 pm ET).
Google is the world’s fourth-largest company by market capitalization ($2.1T), with about 55% of its revenue drawn from selling ads to users based on their search queries. Experts predict OpenAI’s ChatGPT chatbot—which returns human-like conversational answers to queries instead of a list of links—has the potential to significantly disrupt Google’s business model as well as the reliance on third-party links on search traffic. Other competitors, including Perplexity (try here), have already moved into AI-powered search.
Some reports suggest the big reveal may include an AI assistant capable of detecting sarcasm. |
Michael Cohen—former President Donald Trump's one-time personal lawyer—is set to take the stand today as a key witness in the Manhattan hush money case against Trump. Trump's defense is expected to focus on questions around Cohen's credibility; the now-disbarred lawyer was sentenced to prison in 2018 for financial crimes, including violation of campaign finance laws.
In 2016, Cohen paid adult film star Stormy Daniels $130K in exchange for silence over her alleged affair with then-candidate Trump. Documents show Cohen funneled his own personal money through a shell company, Essential Consultants LLC, to facilitate the payment. Cohen says he acted at Trump's direction and that Trump reimbursed him. Trump faces 34 counts of falsifying business records in relation to the Stormy Daniels payments. He denies the affair and any wrongdoing.
Separately, Sen. Bob Menendez's (D-NJ) corruption trial is set to begin today over the discovery of 13 gold bars and more than $486K in cash in his home. Prosecutors say they were bribes from businessmen in exchange for actions benefiting Egypt and Qatar. Menendez has pleaded not guilty. |
Switzerland Wins Eurovision |
Switzerland's Nemo won the 68th annual Eurovision Song Contest this weekend, the first win for the country since Celine Dion in 1988 and the first contest winner to identify as nonbinary (the subject of the winning song). The contest is the world's single most-watched televised live music event, attracting more than 160 million viewers globally.
Nemo beat out Croatia's Baby Lasagna, whose song about emigration placed first in the public vote but eighth with juries of music industry professionals (see how Eurovision's voting process works here). Israel's Eden Golan—whose participation was the subject of a boycott movement and protests—placed second in the public vote but 12th with the juries. Meanwhile, the Netherlands' Joost Klein—whose song was predicted to rank highly—was disqualified from the final while local police investigated his alleged role in an altercation with a camerawoman.
Winners of Eurovision do not receive a cash prize but instead a trophy of a 1950s-style glass microphone. Watch performance clips here. |
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In partnership with SmartAsset |
7 Mistakes When Choosing A Financial Advisor |
Working with a financial advisor can be a crucial part of any healthy retirement plan.
Research suggests that people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.¹ But choosing the wrong one could wreak havoc. Avoid these 7 mistakes when hiring an advisor so you can work to potentially save years of stress. See the list.
With thousands of options available, finding an advisor can seem daunting. That's why SmartAsset developed a free quiz to help match you with up to 3 vetted financial advisors serving your area, each legally bound to work in your best interest. It's never too late to work toward a comfortable retirement. Get your financial advisor matches today.
1. "Journal of Retirement Study Winter" (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study. |
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Sports, Entertainment, & Culture |
> NHL Stanley Cup Playoffs Round Two continues; see latest bracket and schedule (More) | Atlanta Hawks win NBA Draft lottery, will get top pick in 2024 draft (More) | ... and see latest NBA playoff bracket (More) |
> Roger Corman, prolific independent filmmaker who directed 55 and produced 385 films during his over 50 year career, dies at 98 (More) | "Kingdom of the Planet of the Apes" hauls in $56M in its opening weekend at domestic box office (More) |
> "Top Boy," "Happy Valley," and "The Sixth Commandment" are top winners at 2024 BAFTAs, or British Academy Television Awards (More) | 148th Westminster Kennel Club dog show kicks off, with best in show to be crowned tomorrow night (More) |
In partnership with Babbel |
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> First successful recipient of a pig kidney transplant dies two months after operation; doctors say no evidence new organ failed or contributed to the patient's death (More) |
> Data from NASA's Cassini mission cast doubt on Mond theory, a main competing theory to dark matter (More) | Dark matter has never been observed but is believed to make up 85% of the universe's mass; see overview (More, via YouTube) |
> Chronic asthma linked to overcrowding of old cells along the lining of the lungs; findings may lead to new treatments for the condition affecting roughly one in 12 people (More) |
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> US stock markets close mixed (S&P 500 +0.2%, Dow +0.3%, Nasdaq -0.03%), with Dow experiencing best week since December 2023 (More) |
> Apple Store employees in Maryland vote to authorize strike over stalled union contract negotiations surrounding wages, shift schedules; strike (date not yet announced) would be the first work stoppage at an Apple Store in the US (More) |
> Target restricts availability of Pride Month collection to select stores following backlash, boycotts, and bomb threats in stores across five states last year (More) |
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> Russian President Vladimir Putin reassigns longtime defense minister, Sergei Shoigu, to Russia's Security Council, proposing economist Andrei Belousov as his replacement in fifth term shake-up (More) | Russia says it captured multiple towns in Ukraine's northeastern Kharkiv region (More) | See updates on war (More) |
> Roughly 300,000 people flee Rafah as Israel expands military operations in southern Gaza; fighting also reported in northern and central Gaza (More) | See updates on war (More) |
> Flash floods in Afghanistan kill more than 315 people and destroy more than 2,000 houses, according to the UN's World Food Program (More) |
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In partnership with SmartAsset |
What's the Best Way to Lower RMD Taxes? |
If you have tax-deferred retirement accounts, you'll need to take required minimum distributions (RMDs) eventually. If not properly planned for, these distributions could take a tax toll on your retirement nest egg. Check out these 6 strategies to help reduce distributions and potentially lower your tax bill. Learn more.
Consulting a fiduciary financial advisor can help when factoring RMDs and the potential tax repercussions. Try SmartAsset's no-cost tool to get matched with up to 3 vetted financial advisors serving your area, who can help you plan to work toward a comfortable retirement. Get your financial advisor matches today. |
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