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   DealBook: OpenAI exclusive, Tariff bingo, Figma’s pop
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   Investors in ChatGPT’s parent include unexpected names.
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             August 1, 2025
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          Good morning. Andrew here. It’s a huge morning of news: We have an exclusive on OpenAI’s latest fund-raising round, with some new boldfaced investor names and one big check; we sort through the latest tariff news and what comes next; we also dive into Figma’s I.P.O. for the ages, and more.
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          And stay tuned for the jobs numbers, which come out shortly. (Was this newsletter forwarded to you?
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          Sign up here.
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          )
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            <img alt="Sam Altman, the C.E.O. of OpenAI, gestures with his hands as he turns to his right to speak." class="css-3vswge" height="400" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F08%252F01%252Fmultimedia%252F01db-altman-mwpf%252F01db-altman-mwpf-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NTQwNDk3NTIuMTQ1OTY0OX0:1uhoT2:VJvPh0gVa-DHN1Or7GqWzONjOSJiL2Dsya4T4kStYh8" style="width:100%;height:auto;display:block;padding-top:10px;padding-bottom:8px" width="600"/>
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             Sam Altman, the C.E.O. of OpenAI, is riding high. The start-up has raised over $8 billion in its latest funding round, DealBook reports.
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             Jeenah Moon for The New York Times
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
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          OpenAI’s latest mega-round
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          While Wall Street has been focused on how tech giants are spending on artificial intelligence, the most prominent name in the field, OpenAI, has been racking up big money as well.
         </span>
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          DealBook is first to report on the huge numbers, and what the round means for the company behind ChatGPT in the increasingly heated A.I. race.
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          OpenAI has raised $8.3 billion at a $300 billion valuation, months ahead of schedule,
         </span>
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          as part of its plan to secure $40 billion in funding this year, DealBook has learned. Back in March, OpenAI announced its ambitious funding plans, with
         </span>
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          SoftBank committing
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          to provide $30 billion by year-end.
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        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The start-up raised $2.5 billion from venture capital firms that same month, with plans to raise an additional $7.5 billion by the end of the year. Instead, the fund-raising came much sooner — and over target.
         </span>
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          A wave of new investors participated in the round,
         </span>
         <span>
          including the private equity giants Blackstone and TPG, and the mutual fund manager T. Rowe Price. Other participants include Fidelity Management, Founders Fund, Sequoia Capital, Andreessen Horowitz, Coatue Management, Altimeter Capital, D1 Capital Partners, Tiger Global and Thrive Capital.
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          Blackstone and TPG aren’t major investors in A.I. model makers. But they were seen by OpenAI as particularly valuable, since they can promote the adoption of ChatGPT among their portfolio companies, including those in health care, financial services and industrials.
         </span>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The round was five times oversubscribed — and left some early investors in OpenAI frustrated by the smaller allocations they got as the company prioritized bringing on new strategic backers.
         </span>
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          The lead investor was Dragoneer Investment Group,
         </span>
         <span>
          which committed $2.8 billion, an astonishing check from a single venture capital firm that may be one of the largest ever written.
         </span>
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          The investment casts a spotlight on Dragoneer, which made successful early bets on companies like Airbnb, Spotify and Uber but has largely stayed behind the scenes in Silicon Valley. Marc Stad, Dragoneer’s founder, is now taking a very public claim on what many in Silicon Valley see as the defining tech platform of the next decade. The investment represents about 10 percent of the firm’s funds.
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          OpenAI’s business continues to surge.
         </span>
         <span>
          DealBook hears that the company’s annual recurring revenue has soared to $13 billion, up from $10 billion in June — and is projected to surpass $20 billion by the end of the year.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The number of business users who pay for ChatGPT has reached five million, up from three million just a few months ago. (
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          The Information previously reported
         </a>
         <span>
          on some of the growth numbers.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The new funding round comes amid OpenAI’s delicate negotiations with Microsoft.
         </span>
         <span>
          Remember that OpenAI is seeking to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          become a for-profit company
         </a>
         <span>
          , a plan that requires
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          sign-off by Microsoft
         </a>
         <span>
          , its biggest investor and business partner.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The stakes are big: A positive outcome could help shape OpenAI’s path toward an eventual I.P.O.
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
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           <td height="30">
           </td>
          </tr>
          <td style="padding:0;font-size:0;border-top:8px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             HERE’S WHAT’S HAPPENING
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Investors eye a pivotal jobs report today.
         </span>
         <span>
          Economists forecast that employers
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          added 115,000 jobs
         </a>
         <span>
          last month, according to FactSet,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          down from 147,000
         </a>
         <span>
          in June. (The data is set for release at 8:30 a.m. Eastern.) A hot number could reinforce the Fed’s decision to leave interest rates unchanged. President Trump this morning stepped up the pressure on Jay Powell, demanding the Fed chair lower rates now, saying that if he continued to refuse, “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          THE BOARD SHOULD ASSUME CONTROL
         </a>
         <span>
          , AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”
         </span>
        </p>
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           </td>
          </tr>
          <tr aria-hidden="true">
           <td>
            <div style="width:100%;text-align:center;line-height:0">
             <img alt="Ad" border="0" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D1053700%2526li%253DDK%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20250801%2526stpe%253Ddefault/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiIsInRpbWUiOjE3NTQwNDk3NTIuMTQ2ODY1NH0:1uhoT2:mxW7VfvkA4rY1rf1bDbsS-D2PNRXmeD-_lpiP4zp3OU" style="max-width:96px;margin-bottom:7px"/>
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           </td>
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           <td height="20">
           </td>
          </tr>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Ray Dalio has reportedly cut all ties with Bridgewater Associates.
         </span>
         <span>
          The billionaire
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          sold his final stake
         </a>
         <span>
          in the hedge fund he founded 50 years ago and will leave the board, The Wall Street Journal reported, completing a decadelong leadership transition that has fascinated Wall Street. Bridgewater also sold a multibillion-dollar stake to Brunei’s sovereign wealth fund, as the firm reconfigures itself for the post-Dalio era.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          President Trump’s political war chest swells.
         </span>
         <span>
          MAGA Inc., Trump’s super PAC, has
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          raised about $200 million
         </a>
         <span>
          , a startling sum for a president in his final term. Donors include Jeffrey Yass, a major investor in TikTok; the Silicon Valley venture capitalists Ben Horowitz and Marc Andreessen; and Elon Musk, who also gave
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          $10 million to Congressional Republicans
         </a>
         <span>
          despite saying he had “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          done enough
         </a>
         <span>
          ” political spending.
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td height="10">
           </td>
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           </td>
          </tr>
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           <td height="20">
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Trade blitz
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          For weeks, global investors seemed to shake off President Trump’s tariff threats, with markets setting record after record.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That rally looks to be in jeopardy today after the White House announced that
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          steep levies would be imposed
         </a>
         <span>
          on more than 60 countries on Aug. 7. But that one-week delay suggests there’s a bit more time for trading partners to reach a deal.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The latest:
         </span>
         <span>
          Stocks in Asia and Europe were broadly lower, while S&amp;P 500 futures are also in the red. Shares in the European drugmakers Novo Nordisk, Sanofi and AstraZeneca also fell after the White House sent
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          letters to 17 global pharma giants
         </a>
         <span>
          demanding they slash the prices they charge Medicaid.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The proposed tariffs go up to 50 percent
         </span>
         <span>
          , a level that could ding growth, raise inflation and scramble global supply chains. Companies like
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Adidas
         </a>
         <span>
          ,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Ford
         </a>
         <span>
          and
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Procter &amp; Gamble
         </a>
         <span>
          warned that levies would hit profits and, in some cases, lead to higher prices for consumers. Tariffs are “inherently inflationary,”
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Jon Moeller
         </a>
         <span>
          , P.&amp;G.’s C.E.O., told Yahoo Finance on Wednesday.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Economists put the overall tariff rate on U.S. imports at around 15 percent. That’s up from roughly 2 percent at the start of the year and the highest level since the 1930s.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          But there have been some last-minute surprises:
         </span>
        </p>
        <div style="margin:0 auto;max-width:600px;width:100%">
         <table>
          <tbody>
           <tr>
            <td style="padding:0 0 5px">
             <ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Mexico, America’s largest trading partner,
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                won a 90-day reprieve
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Treasury Secretary Scott Bessent told CNBC yesterday that he was “confident” negotiators could reach a similar extension with China.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Canada is now subject to a 35 percent levy on goods, up from 25 percent, as tensions between Ottawa and Washington worsen.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Switzerland, which runs a large trade surplus with the U.S. via exports of pharmaceuticals, coffee capsules and more, faces a
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                39 percent tariff rate
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                . Shares in Watches of Switzerland, a retailer of Rolex and other Swiss timepieces,
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                fell sharply
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                in London trading.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                There are
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                some overall exemptions on tariffs
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , including for goods already in transit.
               </span>
              </li>
             </ul>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Here’s a country-by-country
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          tariff tracker
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          It may take a while for households to feel the effect of the levies.
         </span>
         <span>
          “These taxes do not show up in consumer baskets with full force until January next year,” Paul Donovan, the chief economist for UBS Global Wealth Management, wrote in a research note this morning.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That lag could scramble the Fed’s interest-rate policy. The central bank is wary of lowering borrowing costs if higher inflation is looming.
         </span>
        </p>
        <table width="100%">
         <tbody>
          <tr>
           <td class="css-36ugzx" style="padding-bottom:15px">
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding-bottom:15px">
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Figma’s heady debut, by the numbers
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          What a difference three years makes.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Figma closed its first day of trading yesterday with a market capitalization of nearly $68 billion, more than triple what it would have gotten in a failed sale to Adobe announced in 2022. That jump in value is one for the ages — and gives Figma more firepower to strike its own takeovers.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The company’s stock soared 250 percent yesterday, closing at $115.50.
         </span>
         <span>
          It priced its I.P.O. at $33 a share — an eye-watering “pop,” Wall Street lingo for how much a stock jumps on its first day of trading.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Figma’s pop is the biggest for a billion-dollar I.P.O. in at least 30 years, according to Renaissance Capital. Only two other offerings that raised at least $500 million broke 150 percent:
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Circle
         </span>
         <span>
          , the stablecoin issuer that went public in June (168 percent), and
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Palm
         </span>
         <span>
          , the onetime maker of personal digital assistants, at the height of the dot-com boom in 2000 (150 percent).
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Worth noting:
         </span>
         <span>
          Underwriters try to aim for a pop in the midteens, by offering enough of a discount to persuade potential investors to buy into an I.P.O. while also creating robust demand for the stock once it begins trading.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          But companies, and some
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          prominent venture capitalists
         </a>
         <span>
          , generally don’t like huge pops, because they mean underwriters probably could have priced the I.P.O. higher. Consider: At the offering price of $33, Figma and some shareholders raised $1.2 billion for the shares they sold; at $115.50, they would have gotten nearly $4.3 billion.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          What’s next for Figma: major deals of its own.
         </span>
         <span>
          Dylan Field, the company’s co-founder and C.E.O., told DealBook that he planned to invest heavily in technology like artificial intelligence. Having a publicly traded stock to help finance those acquisitions could help.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “Investors know that we plan to take big swings,” Field said.
         </span>
        </p>
        <table width="100%">
         <tbody>
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           <td class="css-36ugzx" style="padding-bottom:15px">
           </td>
          </tr>
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           <td style="border-top:1px solid #dcdcdc;padding-bottom:15px">
           </td>
          </tr>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <img alt="A bar chart breaks down the stock performance of five tech companies since mid-January, 2025." class="css-xsf469" height="289" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F08%252F01%252Fbusiness%252F01db-chart%252F01db-chart-jumbo.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NTQwNDk3NTIuMTQ3MjIyOH0:1uhoT2:GahDljoW5BvMWH3JyKyR0obdFEMqdeKD4G58T9POj1k" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:20px;line-height:0" width="500"/>
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Chart of the day
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          In January, the unexpected
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          rise of DeepSeek
         </a>
         <span>
          , a Chinese chatbot that was said to have been developed far more cheaply than U.S. rivals, sent a jolt through the markets. Shares in several U.S. tech giants tanked, dragging down the S&amp;P 500.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Since then, many of those companies have increased their artificial intelligence spending — and some of their stocks have rebounded or even exceeded earlier levels. Others have not, however, suggesting that investors are picking only a few winners in the expensive A.I. race.
         </span>
        </p>
        <table width="100%">
         <tbody>
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           <td class="css-36ugzx" style="padding-bottom:15px">
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding-bottom:15px">
           </td>
          </tr>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
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          Every week, we’re asking a C.E.O. how he or she uses generative artificial intelligence. Michael Hansen, who leads the education company Cengage Group, says he asks his direct reports to use A.I. as a starting point for answering questions. His responses have been edited and condensed for clarity.
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          How do you use A.I. personally?
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          I’ve made it a habit to start any interaction I have with my team by first generating the answer through ChatGPT or another generative A.I. engine. We generate the first draft of earnings call comments through ChatGPT, the same for competitive analysis. It’s become very much part of the muscle memory of the organization: People will typically automatically come and say, here’s what ChatGPT generated, let’s discuss it as a baseline.
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          What direction have you given your team on how to use A.I.?
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          I have been through a number of new technologies. I’ve never seen the speed with which this is being deployed. And that is both, I think, a call for excitement and for caution.
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          Internally, my biggest “aha” moment was on the customer side. We deal with tens of thousands of faculty, and now we can direct the sales force in a much more efficient way. How much have they taught with the previous system? How willing are they to switch? All of the data resides in our C.R.M. [customer relationship management] system, and the generative A.I. can pinpoint us to, “This person is ready to talk about this, and you can talk to her after her office hours on Thursday.”
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                Goldman Sachs is said to be close to
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                investing in Froneri
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                , the ice cream company that owns the Häagen-Dazs brand in the U.S., at a valuation of about 15 billion euros ($17 billion). (FT)
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                Starbucks has reportedly zeroed in on
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                a dozen potential investors
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                for its China business, including Carlyle Group, Primavera Capital and Tencent. (Bloomberg)
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                Palantir landed
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                a contract with the Pentagon
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                that could be worth up to $10 billion, one of the department’s largest-ever contracts. (WaPo)
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                Google loses U.S. appeal
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                over app store reforms in Epic Games case” (Reuters)
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                Why America’s
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                condo market is faltering
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                — and why sale prices could be under pressure for a while. (WSJ)
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                Michael Kassan
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                and United Talent Agency have settled the terms of his departure from the entertainment giant, seemingly ending a feud that riveted Hollywood. (The Hollywood Reporter)
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