Fidelity mutual funds marked up the value of their X Holdings shares by 32.37% in October, the largest monthly increase since helping Elon Musk buy the company in 2022.
The big picture: Even with the valuation boost, Fidelity believes X is worth nearly 72% less than the $44 billion purchase price.
Investor Marc Andreessen set off a firestorm this past week when he said dozens of tech executives were quietly "debanked" during the Biden administration, highlighting an obscure but politically fraught practice.
Why it matters: Having your access to the banking system revoked is a significant but not necessarily unusual penalty — one that nonetheless has aggravated a conservative base prone to suspicion of government overreach.
Generative AI has yet to make a profound difference in how we live our lives. But it has already changed the future.
The big picture: OpenAI's ChatGPT turns two years old today. Outside a handful of specific fields, it's hard to make the case that it has transformed the world the way its promoters promise. But the possibilities its power unlocks — both good and bad — have come into sharp view.
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