The Washington Post Inks Deal With OpenAI, News Stories to Be Featured in ChatGPT
OpenAI continues to strike deals with major media companies. The latest to join forces with the tech company behind ChatGPT? Jeff Bezos' own Washington Post.
The Washington Post on Tuesday said that it had inked a deal with OpenAI that will make summaries, quotes and links to its stories available in ChatGPT.
More from The Hollywood Reporter
The Miyazaki Maelstrom: OpenAI's Ghibli Craze Signals a Troubling Future for Hollywood
Justine Bateman Wants to "Give a Book of Matches" to the Tech Companies So They Can Burn Down Hollywood
Court Advances The New York Times Lawsuit Against OpenAI
'We're all in on meeting our audiences where they are,' said Peter Elkins-Williams, head of global partnerships at The Washington Post. 'Ensuring ChatGPT users have our impactful reporting at their fingertips builds on our commitment to provide access where, how and when our audiences want it.'
'More than 500 million people use ChatGPT each week to get answers to all kinds of questions,' added Varun Shetty, head of media partnerships at OpenAI. 'By investing in high-quality journalism by partners like The Washington Post, we're helping ensure our users get timely, trustworthy information when they need it.'
OpenAI has been striking media deals across the industry, including major partnerships with Wall Street Journal owner News Corp., Hearst, Time, Condé Nast, and others. One outlet that has not taken OpenAI's money is The New York Times, which has spent millions in a legal battle with the tech giant.
While many of OpenAI's deals have been with news outlets to bring timely information to ChatGPT, the company has its sights set on Hollywood next, with its video product Sora meant to speed up the creation of original content.
Best of The Hollywood Reporter
How the Warner Brothers Got Their Film Business Started
Meet the World Builders: Hollywood's Top Physical Production Executives of 2023
Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
38 minutes ago
- Yahoo
Analysts raise price targets on CoreWeave after blowout Q1, despite CapEx concerns
-- CoreWeave Inc (NASDAQ:CRWV) reported a strong debut earnings release as a public company, delivering better-than-expected revenue and robust guidance. Yet, shares fell by 5.4% in Thursday's trading, with investors focusing on the company's aggressive capital expenditure plans. Despite near-term pressure, analysts overwhelmingly reiterated bullish ratings and have significantly raised price targets. They cited rapid AI infrastructure demand and substantial new customer wins as the driving forces behind CoreWeave's long-term positioning. The AI-oriented cloud infrastructure firm delivered first-quarter revenue of $981.6 million, surpassing estimates by over $100 million and growing 420% year-over-year. CoreWeave expects Q2 revenue of $1.06 billion to $1.1 billion and full-year revenue between $4.9 billion and $5.1 billion, well ahead of consensus estimates. However, CapEx guidance of $3 to $3.5 billion for the second quarter, roughly three times expected revenue, led to concerns around free cash flow and dilution risk. Investors reacted negatively to the elevated spending levels despite the otherwise strong results. BofA analyst Brad Sills raised his price target to $76 from $42 while maintaining a Buy rating, calling CoreWeave's Q1 performance validation of its 'best-of-breed' position in the AI infrastructure market. Sills flagged better-than-expected return on net assets and strong contract signings, including a $12 billion OpenAI deal and $4 billion expansion with another large enterprise. While acknowledging CapEx came in above forecasts, he highlighted margin stability when adjusting for IPO-related costs. Mizuho's Gregg Moskowitz lifted his price target to $70 from $46 and reiterated an Outperform rating. He noted that the company's top-line guidance is 'materially' ahead of already strong Street expectations. 'CRWV is positioned to capture meaningful share of an AI cloud provider market growing at a server-melting pace,' Moskowitz wrote. He acknowledged near-term pressure on margins due to accelerated investment but said valuation remains reasonable. Jefferies analyst Brent Thill raised his price target to $80 from $51. He called CoreWeave a 'multi-year winner' based on customer growth and its ability to align CapEx with signed contractual deals. Thill cited new enterprise traction and the deal with OpenAI as evidence of momentum. He said the stock's premium to peers is justified by its unmatched growth profile in a rapidly scaling market. Not all analysts were bullish. Citi reiterated a Neutral rating and $43 target, pointing to mixed profitability and declining RPO. DA Davidson downgraded the stock to Underperform with a $36 target. The firm warned that investors 'may not want to scale this business,' drawing comparisons to the pitfalls of scaling WeWork (OTC:WEWKQ). Still, most analysts see CoreWeave as poised to capitalize on accelerating AI infrastructure demand. As Morgan Stanley's Keith Weiss wrote, 'Accruing large contracts from the most demanding GenAI users provides strong validation of CoreWeave's positioning.' Related articles Analysts raise price targets on CoreWeave after blowout Q1, despite CapEx concerns Constellation Brands jumps as Berkshire raises stake CrowdStrike CEO Kurtz said 'not riding off into sunset', remains large shareholder Connectez-vous pour accéder à votre portefeuille
Yahoo
38 minutes ago
- Yahoo
Two months after CoreWeave's IPO fizzled, the AI company has surged 250% and left doubters baffled
On Monday, data center company Applied Digital announced two 15-year lease agreements with CoreWeave, an AI infrastructure company. The news sent CoreWeave's stock soaring by more than 40% over the next few days. Such double digit percentage gains have become par for the course during CoreWeave's brief life as a publicly traded stock. On May 27, the stock jumped over 20% after the company announced $2 billion in senior notes, and on May 16 it popped 22% on news that Nvidia infused it with a $900 million investment. The stock tumbled 17% on Thursday, but was back up 4% in midday trading on Friday. Even for a high beta stock, the overall trendline is overwhelmingly positive: Coreweave's stock is up a whopping 250% since its March IPO, with the company's market cap now roughly $70 billion. This has baffled many Wall Street analysts who believe the company is in a precarious financial situation despite the explosive revenue growth logged on its top line. 'Nothing from a fundamental perspective would support the magnitude of change that we've seen in the stock since the IPO,' says Nick Del Deo, a managing director at MoffettNathanson who covers CoreWeave and other tech companies. Of the 19 analysts who cover the company, just three had a 'buy' rating on the stock and four others had positive opinions while the consensus rating is firmly 'hold' as of June 6. The average price target among all analysts who cover the stock is $72.61, well below the $145 level Coreweave was trading at on Friday and the 52-week high of $166.63. Some analysts believe the demand for the stock is being driven by retail investors who, on average, engage in contrarian and momentum-driven trading and may be eager to invest in CoreWeave due to its multi-billion dollar contracts with Nvidia, OpenAI, Microsoft and other major companies propelling AI. It's worth noting that institutional investors like Coatue Management and Jane Street do hold CoreWeave positions worth over $1 billion each. Big announcements like the Applied Digital leases are one factor driving up shares of the stock. An even more fundamental dynamic is that investors are looking for ways to capitalize on the success of OpenAI, which is privately held, and see CoreWeave as one of the few vehicles for exposure in the public markets. OpenAI owns a percentage of CoreWeave and signed a multi-billion deal as its cloud infrastructure provider until April 2029. Plus, CoreWeave is a preferred partner of Nvidia, currently the most valuable company in the world by market cap, which is also an investor in CoreWeave. CoreWeave 'is positioned to capture meaningful share of an AI cloud provider market growing at a server-melting pace,' wrote Mizuho's Gregg Moskowitz, who has an 'outperform' rating on the stock, in a note after the company's released its quarterly earnings report in mid-May. In the first quarter, CoreWeave beat revenue estimates by over 10% and forecasted second-quarter above consensus predictions, too, per Yahoo Finance. Moskowitz and the other optimistic CoreWeave analysts did not respond to Fortune requests for comment. Coreweave posted revenue of $981.6 million in the first three months of the year, up a staggering 420% from the year-ago period. The meteoric growth reflects Coreweave's well-timed pivot to AI. Founded in 2017 by three commodity traders, Coreweave began as an ethereum mining company. In 2019 it pivoted to cloud infrastructure to enhance GPU capabilities, attracting investment and chips from Nvidia–beginning its journey to the upper echelons of AI computing. The company's public market debut was not auspicious. Coreweave reduced the price range of the offering, and the stock finished its first day trading just one penny above its $40 IPO price. For analysts skeptical about CoreWeave's value, their dim view is driven by the company's debt-saddled balance sheet, its ultra-dependence on Microsoft, and customers' development of proprietary technologies to replace contracts with the cloud computing company. The bullishness of day traders and bearishness of investment professionals may be creating a short squeeze situation similar to the GameStop one that rocked markets in 2021 by causing the stock to go from $17 to $483 over the course of a month. The volatility of the CoreWeave in this instance is amplified by its low float—meaning that only a small amount of shares are available for purchase. It would make sense that CoreWeave could be a short squeeze target: short interest is approximately 8.44% of its float, well above the 2% to 5% average across U.S. stocks, though still far below the 140% of GameStop near the onset of its famous squeeze. One Coreweave short seller experiencing the squeeze is Felix Wang, a managing director and partner at Hedgeye Risk Management. Yet, Wang maintains his short position despite facing potentially enormous losses. His argument is multifaceted but boils down to the company's net debt, lease liabilities and its dependence on Microsoft and a tiny handful of others for the bulk of its revenues. 'Investors should be more concerned about their operating and financial obligations,' he tells Fortune. This is because the company has a 387% debt-to-equity ratio, -38.7% profit margin and $11.9 billion debt with just $1.28 billion in cash. These fundamentals combined with the fact that Microsoft accounted for over 70% of CoreWeave's revenue last quarter leads Wang to compare CoreWeave to WeWork at the time of its failed 2019 IPO. Wang looks at CoreWeave's creditors Blackstone and Magnetar Financial. He says that these lenders are currently charging CoreWeave 10% to 15% interest on its debt and will have provisions to charge higher interest and accelerate the repayment schedule if CoreWeave's clients like Microsoft end or downgrade partnerships with the cloud provider. 'If your customers are the most highly-rated AAA clients in the world, other than OpenAI, then why are you paying 10% to 15% interest by yield on your debt agreements?' ask Wangs. CoreWeave's debt obligations have, in-part, led D.A. Davidson Head of Research Gil Luria to rate the stock as an underperformer. He explains that CoreWeave's debt obligations are so large that equity holders own a very little portion of the company. Plus, CoreWeave customers Microsoft and Google are building products to directly compete with it, he says. 'The only reason that they're using CoreWeave is that CoreWeave was able to build quickly enough while Microsoft and Google weren't getting enough chips from Nvidia,' leading them to ink three- or five-year deals with CoreWeave, he says. 'Their need for CoreWeave will go away within the life of the contract.' These incredulous analysts may be vindicated in September when the lockup period on the IPO expires in September and restricted shareholders can offload their CoreWeave holdings and the stock price will drop. But as CoreWeave's stock bounced back Friday after plunging 17% on Thursday, perhaps the only thing that's clear is that the AI company will continue to leave believers, and skeptics, scratching their heads. This story was originally featured on
Politico
an hour ago
- Politico
The New York Times lobbies up
With Katherine Long, Daniel Lippman FIRST IN PI — NYT HIRES BROWNSTEIN: The New York Times has registered to lobby for the first time in more than a decade. The news giant has retained K Street heavyweight Brownstein Hyatt Farber Schreck to represent it on a range of issues affecting the industry, from encroachments on press freedoms to the threats posed by artificial intelligence. — The Times' parent company first hired Brownstein last year, but the firm's work didn't trigger lobbying registration requirements until April, according to a spokesperson for the company and a draft disclosure filing shared with PI. More than half a dozen lobbyists are listed as working on the account for Brownstein: Republicans Marc Lampkin, Will Moschella and Greta Joynes and Democrats Al Mottur, Alice Lugo, Rob Robillard and John Menges. — One issue drawing the paper off the lobbying sidelines is the increasing ubiquity of artificial intelligence and the thorny issues it poses for news organizations. The Times, for example, introduced a suite of AI tools for internal use earlier this year. And many news outlets (including the Times, POLITICO and parent company Axel Springer) have partnered with AI companies on licensing deals and consumer-facing products. — But NYT is also one of several publishers facing off in court against ChatGPT creator OpenAI or other AI companies accused of copyright infringement for using outlets' content to train its models without permission or compensation. — In a congressional hearing on the issue last year, Sen. Richard Blumenthal (D-Conn.) warned that AI was 'literally eating away at the lifeblood of our democracy' and contributing to an 'existential crisis' among local publishers in particular. The last Congress also mulled legislation that would require online platforms like Google and Meta to negotiate with and pay news publishers in exchange for hosting their content. — At the same time, Times publisher A.G. Sulzberger has been repeatedly sounding the alarm about threats to press freedom both around the world and from leaders in the U.S. — In a speech last month that was republished as an essay in the Times, Sulzberger took note of President Donald Trump's escalating pressure campaign against news outlets already in his second term — from curtailing access to certain mainstream outlets in favor of friendlier partisan ones to suing, seeking to defund or opening federal probes of others and calling for the jailing of reporters. — 'It takes significant time, effort, and resources to produce The New York Times's fact-based original journalism and other content. Because of that, we have for years taken steps to protect and defend our intellectual property rights and uphold its value,' a Times spokesperson told PI in a statement. — 'In line with these efforts, we have engaged a Washington, DC-based government affairs firm to ensure our rights and legal protections are clearly and accurately represented among policymakers and regulators focused on publishing, media, copyright law and press freedoms,' it added. — The Times hasn't lobbied at the federal level since 2014, when the company paid Keightley & Ashner $30,000 for three quarters of work related to a pension issue. TGIF and welcome to PI. This newsletter runs on tips, so let's hear 'em. You can add me on Signal, email me at coprysko@ and be sure to follow me on X: @caitlinoprysko. ALL ABOUT AVA: A coalition of budget airlines this week launched the Association of Value Airlines, a new industry group aimed at boosting low-budget carriers in policy debates often dominated by the trade association representing major carriers, Airlines for America. AVA's founding members include Allegiant, Avelo, Frontier, Spirit and Sun Country. — Chris Brown currently serves as the group's interim executive director. He previously was vice president of legislative and regulatory affairs at larger industry trade association Airlines for America, and lobbied for low-fare airlines at the National Air Carrier Association. — In an interview with PI, Brown said the goal of AVA is to amplify the priorities of budget airlines, as larger organizations encompassing a range of air carriers often lead to competing priorities. Those priorities, Brown said, include a focus on rising costs due to the pilot shortage and the implementation of simulator training programs within the current 1,500-hour training requirement for pilots. — While the budget airlines business model thrived during the pandemic, they're now at an inflection point, Brown said. Brown attributes these airlines' success to ancillary fees, a model that other high-budget airlines have started to mirror. Southwest Airlines, for example, announced in March plans to do away with its free checked bag policy. — 'It's a critical time for our carriers, because of where they are financially and wanting to take advantage of what should be a more favorable regulatory environment with the Trump administration,' Brown said. PAUL WEISS LOSES ANOTHER BIG NAME: Another prominent lawyer has left Paul Weiss Rifkind Wharton & Garrison after the law firm struck a deal with the Trump administration to avoid being punished by an executive order. — Damian Williams, the former U.S. attorney for the Southern District of New York, left the firm after just five months to join Jenner & Block as the co-chair of its litigation department and investigations, compliance and defense practice. — Williams served as one of the nation's top federal prosecutors during the Biden administration, securing several high-profile convictions including those of former crypto kingmaker Sam Bankman-Fried and former Sen. Bob Menendez (D-N.J.). — Williams is the latest in a string of notable departures from Paul Weiss in the aftermath of its deal with the White House. Top Democratic attorney Karen Dunn and former top DOJ official Jeannie Rhee left the firm along with two other partners last month. — But Williams' landing spot is almost more notable: Jenner & Block became one of the first white shoe law firms targeted by Trump to take the president to court over his executive orders — and so far, they've been winning. OFF TARGET: 'A top Democratic organization strongly encouraged state campaigns to do much of their digital ad-buying business with a company that one of its members is set to soon join as CEO — a development that has puzzled and concerned some party insiders,' POLITICO's Holly Otterbein and Daniel report. — 'At a meeting in Little Rock, Arkansas last week, the Association of State Democratic Committees — an umbrella group for state parties — voted to recommend state races use one liberal firm, TargetSmart, for a major portion of digital ad buys, which could be worth millions.' — 'TargetSmart announced on May 7 that Liz Walters, outgoing chair of the Ohio Democratic Party, is taking over as CEO this summer. Walters, who made her departure public in a post on X, said she would leave the state party role by June 30. And until the week before the group's meeting, she was part of the ASDC's leadership team as treasurer.' — Though Walters recused herself from the TargetSmart vote, the incident is prompting fears among the party of even the appearance of a conflict of interest as Democrats struggle to find their footing. BLAST RADIUS: 'The spectacular breakup between Elon Musk and President Donald Trump threatens to leave Tesla with few political friends,' POLITICO's David Ferris reports. 'Musk has spent the past few months alienating the electric automaker's base of climate-minded car buyers by moonlighting as Trump's government-slasher-in-chief. Now, the billionaire's fixation on the GOP megabill has opened a dangerous rift with the president, who threatened Thursday to end all subsidies to Musk's companies.' — Musk's competitors in the space industry, meanwhile, are already moving to take advantage of the split, according to our Sam Skove. The SpaceX founder has long been an avid proponent of next bringing humans to Mars, rather than the moon. — But in some of the first significant pushback against Musk and SpaceX, 'a number of major space companies … are launching an ad campaign going big on the moon, according to two industry officials granted anonymity to discuss the effort.' — 'A separate letter addressed to the Senate Commerce Committee, and obtained by POLITICO, backs investments in the moon, and is signed by a lengthy slate of prominent space companies — but not SpaceX.' RELATED READ: 'What do Musk and Tesla want from the Republican megabill?' by E&E News' Kelsey Brugger. SHE MEANS BUSINESS: Casey Means, Trump's new nominee to be U.S. surgeon general, 'has repeatedly said the nation's medical, health and food systems are corrupted by special interests and people out to make a profit at the expense of Americans' health,' The Associated Press' Michelle R. Smith and Ali Swenson write. — But as Means 'has criticized scientists, medical schools and regulators for taking money from the food and pharmaceutical industries, she has promoted dozens of health and wellness products — including specialty basil seed supplements, a blood testing service and a prepared meal delivery service — in ways that put money in her own pocket.' — 'In her newsletter, on her social media accounts, on her website, in her book and during podcast appearances, the entrepreneur and influencer has at times failed to disclose that she could profit or benefit in other ways from sales of products she recommends. In some cases, she promoted companies in which she was an investor or adviser without consistently disclosing the connection, the AP found.' AI GROUP STAFFS UP: AI advocacy group Americans for Responsible Innovation is adding four new staffers to its policy team, Morning Tech reports. Brandie Nonnecke, previously an associate research professor at the UC Berkeley Goldman School of Public Policy, is now a senior policy director, while Rachel Hovde is joining as director of policy. She previously served as a senior advisor at the Bureau of Industry and Security. — Sarah Kessel, who worked under former Senate Energy and Natural Resources Chair Sen. Joe Manchin (D-W.V.), is now ARI's manager of government affairs, and Evan Sarnor has joined as a legislative analyst from Akin Gump Strauss Hauer & Feld. CORRECTION: Thursday's edition of this newsletter gave the incorrect state for former Gov. Jim Gilmore and misidentified the division at Seven Letter that has promoted three staffers. PI regrets the error. Jobs report — Chip Kahn will step down as president and CEO of the Federation of American Hospitals at the end of 2025, after 24 years with the group. — Shelly O'Neill Stoneman has launched StonePoint Strategies, a strategic consulting firm. She previously was senior vice president of government affairs at Lockheed Martin. — Chelsea Blink is now legislative director for Rep. Lauren Underwood (D-Ill.). She previously was director of farm animal legislation at the ASPCA. — Gustavo Torres is retiring as executive director of CASA, after more than three decades in the role. — Jerzy Piatkowski is now counsel at Fenwick. He most recently was vice president of contracts and associate general counsel at General Dynamics Mission Systems. — Kevin Orellana will be a legislative assistant for Rep. Vince Fong (R-Calif.), handling his financial services portfolio. He previously was a legislative aide for Rep. Young Kim (R-Calif.). New Joint Fundraisers None. New PACs Earnin PAC Activehours Inc. Fund (Earnin PAC) (PAC) Our Virginia PAC (Super PAC) RIGHT TECH PAC (Hybrid PAC) Taproot Collective Fund (PAC) Vets Against Trump PAC (Super PAC) New Lobbying REGISTRATIONS Akin Gump Strauss Hauer & Feld: Bkv Corporation Arrow Group Consulting, LLC: Pelican Reef Of St. Augustine LLC Becker & Poliakoff, P.A.: Chicanos Por La Causa Becker & Poliakoff, P.A.: City Of St. Pete Beach, Fl Becker & Poliakoff, P.A.: National Iamerican Indian Housing Coalition Becker & Poliakoff, P.A.: Significance, Inc. Becker & Poliakoff, P.A.: Tampa Port Authority Becker & Poliakoff, P.A.: Treatment Alternatives For Safe Communities, Inc. Bgr Government Affairs: Ameresco, Inc. Bgr Government Affairs: Exelon Business Services Company LLC Bgr Government Affairs: Galaxy Digital Holdings Lp Bgr Government Affairs: Millennium Management LLC Bgr Government Affairs: National Rural Electric Cooperative Association Bgr Government Affairs: Phantom Bgr Government Affairs: St Energy Bgr Government Affairs: Welbehealth Boundary Stone Partners: Carbonbuilt Buchanan Ingersoll & Rooney Pc: Bright Path Labs Capital City Consulting, LLC.: Miller Strategies, LLC On Behalf Of Merchants For America, Inc. Continental Strategy, LLC: Stubhub Inc. Greenberg Traurig, LLP: Archkey Solutions Hb Strategies: Viamericas Mercury Public Affairs, LLC: Estar Partners Mindset Advocacy, LLC: Mark Foods LLC Red Carr LLC: Team Hallahan (On Behalf Of City Of Cleveland) Riley Executive Government Solutions: Okeefe Industries Squire Patton Boggs: Bitcoin Policy Institute The Jackson Group, LLC: 47G The Jackson Group, LLC: Pelion Venture Partners The Nuclear Company: The Nuclear Company Todd Strategy Group: Glaxosmithkline LLC Williams And Jensen, Pllc: Dupont Law Firm New Lobbying Terminations Bgr Government Affairs: Grail, LLC Bgr Government Affairs: Sandvine Kiley Capitol Solutions, LLC: Deckard Technologies Kiley Capitol Solutions, LLC: Leading Builders Of America Kiley Capitol Solutions, LLC: Lowe Syndrome Association Walker Strategies: Alliance Of Health Care Sharing Ministries
