OpenAI is stepping up the pace

Are you one of those who have already catched or are considering catching the AI train? Then it's worth keeping a close eye on OpenAI these days. They have launched GPT-4o, an updated version of their GPT-4 model, which is at the heart of their well-known product, ChatGPT. According to OpenAI’s Chief Technology Officer, Mia Murati, the new model is "much faster" and has enhanced capabilities in "text, vision, and audio." Additionally, new features are coming to ChatGPT's voice assistant, which has so far been very limited. GPT-4o will be free for all, while paying users will continue to have up to five times the capacity limits.

Time to stock up in Europe

According to Swiss Bank UBS, European stocks have now become more attractive than their U.S. counterparts, with factors such as economic data, interest rates, and earnings playing a key role. Moreover, UBS indicates that Europe is compensating for its deficiency in technology stocks—which has been a key factor in its underperformance—by having around 40% of its market capitalisation comprised of companies that are industry-leading or unique.

Uber creating potential monopoly 

Uber Technologies is set to acquire the major online food and grocery delivery platform Foodpanda for $950 million in cash, as Foodpanda shifts its focus to other markets. The platform operates in several Asian markets, including Singapore, Malaysia, Thailand, the Philippines, and Hong Kong. In Taiwan, the food delivery market is primarily split between Foodpanda and Uber Eats. Recent data from Measurable AI indicates that Foodpanda holds a 52% market share by order volume, with Uber Eats accounting for the remaining 48%, suggesting that the acquisition could create a potential monopoly. The all-cash deal is expected to close in the first half of 2025, according to a joint statement by Uber Technologies and Delivery Hero on Monday.

Sources: The Verge, CNBC.