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OpenAI plans new Tokyo office, Tesla lays offs thousands

Today on Equity, we go over Tesla's layoffs, OpenAI's GPT-4 model for the Japanese language, ShareChat's valuation haircut, and more.

OpenAI is planning to open an office in Tokyo and launch a new GPT-4 model for the Japanese language. The U.S., EU, and China are all racing for leadership in AI, and OpenAI’s foray into Japan could expand the list of leading blocs and nations. CEO Elon Musk told employees in an internal email that the cuts were aimed at eliminating role duplications, but the company has been seeing its sales start to slow down, and some concern around waning demand for EVs could be playing a part in the decision to slash costs.

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