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What Baron Capital's newest ETFs say about interest in active investing
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OpenAI CFO says these 3 things will help your company stay competitive in the AI era
OpenAI CFO Sarah Friar shared some strategies to remain competitive in the evolving AI landscape. Companies should focus on automating real-world problems, she said. They should also focus on securing unique data sets from universities or companies. AI is advancing so quickly that many companies struggle to plan more than a few months ahead, making it difficult to build a lasting advantage. OpenAI CFO Sarah Friar has three key tips for companies looking to stand out. First order of business is for companies to ask themselves whether they're solving a real problem, she said on CNBC's Squawk Box on Wednesday. "It sounds really trite, but sometimes I think people try to solve problems that don't really exist in the world." Instead, they should focus on automating complicated tasks that are necessary for real-world operations. There are a lot of complex business processes, especially in areas like finance, that can be automated with agents, she said. Lastly, she said that companies should focus on securing unique data sets. "90 plus percent of the world's data sits behind closed doors," she said. "It sits in university settings, and company settings, and so on. And so, can you access that in an appropriate way? That's what I think builds a competitive moat." The hunt for unique data is so fierce that even leading AI companies are pushing boundaries — sometimes at the risk of copyright violations. Meta considered acquiring publisher Simon & Schuster as a solution. Anthropic collected and scanned millions of pirated books while training its Claude model, which a district judge ruled in June did not constitute fair use. Finding proprietary data that isn't publicly available, and getting permission to use it, could be a legally sound foundation for a new AI company.


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Trump has snapped up more than $100 million in bonds since taking office
Key Points U.S. President Donald Trump has spent at least $100 million on bonds since taking office, according to CNBC calculations based on official filings. As well as purchasing debt issued by local governments, school boards and gas districts, Trump bought corporate debt issued by Meta, Home Depot and T-Mobile. Companies and other entities issue bonds to raise capital for reasons including refinancing debt, funding projects or boosting liquidity. U.S. President Donald Trump has been on a multimillion-dollar bond-buying spree since taking office in January, investing in debt issued by local authorities, gas districts and major American corporations. Across 33 pages of filings with the U.S. Office of Government Ethics, or OGE, dated Aug. 12, the president outlined 690 transactions that have taken place since he took office. The documents were made public on Tuesday. According to CNBC calculations, the purchases had a total value of at least $100 million, assuming the lower value end listed for each disclosed transaction. By law, the U.S. president, vice president and other select officials must periodically declare "reportable transactions" to the OGE. The precise value of these dealings does not have to be reported. The extensive lists filed earlier this month show that, over the course of this year, Trump has bought bonds sold by various entities, including local U.S. governments, as well as gas districts, water supply districts, hospital authorities and school boards. Trump also bought debt issued by an array of big-name companies. The documents point to purchases of between $500,000 and $1,000,000 worth of bonds issued by T-Mobile U.S., United Health and Home Depot each in early February. Later that month, he procured debt issued by Facebook and Instagram parent Meta, worth between $250,000 and $500,000. The White House did not immediately respond to a CNBC request for comment. Companies, governments and other groups issue bonds to raise capital to carry out projects, fuel growth, refinance existing debt or to bolster financial stability. Investors who purchase the bonds receive interest payments — either fixed or variable — over an agreed period, along with the return of the full loan amount at the end of that period. Some of the companies whose debt is now owned by Trump have been directly impacted by his policies or business dealings. The White House leader has a net worth of $5.5 billion, according to Forbes. In 2020 — the last year of his first presidential term — Trump was worth $2.1 billion, according to the magazine. Forbes has labeled the years between his two terms "the most lucrative post-presidency in American history" thanks to a series of ventures marketed to his supporters. Trump's political rivals have previously accused him of various conflicts of interest during his tenure as president. Under federal law, the president and vice president are exempt from some regulation relating to conflicts of interest among federal officials — but according to nonprofit watchdog CREW, every modern president prior to Trump has opted to divest their business interests before taking office.