Markets Waver on Iran Conflict; Buffett's Final Quarter Slumps
Financial markets faced a volatile start to the week as geopolitical tensions with Iran sent oil prices sharply higher, though U.S. stocks managed to erase steep early losses. The uncertainty followed military strikes over the weekend, which raised concerns over the flow of crude oil through key global shipping routes. In corporate news, Berkshire Hathaway concluded an era, reporting a nearly 30% decline in fourth-quarter operating earnings to $10.2 billion. The drop, attributed to weakness in its core insurance operations, marked the final quarterly results under the leadership of CEO Warren Buffett. Simultaneously, the technology sector was embroiled in controversy as OpenAI faced a growing public backlash for its new agreement with the Pentagon. CEO Sam Altman defended the deal, acknowledging the 'optics don't look good' after it was rushed through following the collapse of talks with rival Anthropic. Reports indicate OpenAI accepted softer terms, including 'any lawful use' clauses, unlike Anthropic, whose CEO refused the Pentagon's request for unrestricted access on ethical grounds.
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Berkshire Hathaway reports drop in quarterly profit on insurance operations weakness | CNN Business
Berkshire Hathaway, which wrapped up its final year under Warren Buffett’s leadership, reported Saturday that operating earnings for the fourth quarter totaled $10.2 billion, down 29.8% from last year, on weakness from its insurance business.
Amid growing backlash, OpenAI CEO Sam Altman explains why he cut a deal with the Pentagon following Anthropic’s blacklisting | Fortune
OpenAI CEO Sam Altman. Over the weekend, Altman held an "ask me anything" session on social platform X to defend OpenAI's decision to sign a deal with the Pentagon just hours after the Department of War blacklisted rival Anthropic as a 'supply chain risk.' Anthropic had wanted guarantees its ...
By CEO Sam Altman’s own admission, OpenAI’s deal with the Department of Defense was “definitely rushed,” and “the optics don’t look good.” · After negotiations between Anthropic and the Pentagon fell through on Friday, President Donald Trump directed federal agencies to stop ...
'Cancel ChatGPT': AI boycott surges after OpenAI-Pentagon military deal | Euronews
The surge follows reports that Sam Altman's OpenAI struck a deal to deploy its models within classified US military networks. Last week, Anthropic CEO Dario Amodei said he "cannot in good conscience accede to the Pentagon's request" for unrestricted access to the company’s AI systems.
One source familiar with the Pentagon’s negotiations with AI companies confirmed that OpenAI’s deal is much softer than the one Anthropic was pushing for, thanks largely to three words: “any lawful use.” In negotiations, the person said, the Pentagon wouldn’t back down on its desire ...
Stock market today: Dow, S&P 500, Nasdaq avoid steep sell-off as oil spikes amid early Iran fallout
Oil (CL=F, BZ=F) is the headline ... key for the gas market, as roughly 20% of global LNG supply crosses its waters every day. Tanker traffic through the Strait has essentially halted since the US and Israel began striking Iran early Saturday morning, already tighte...
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