Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.
OpenAI Unveils Dall-E 3
Microsoft-backed [MSFT] OpenAI has unveiled the newest version of its text-to-image tool, which uses ChatGPT to complete prompts. Dall-E 3 will be available in October to ChatGPT Plus and Enterprise customers. It can “translate nuanced requests into extremely detailed and accurate images” according to a statement from the company, and will also refuse requests that name public figures, or that ask it to replicate the style of a living artist.
KG Mobility Launches EV; VinFast Cleared to Sell in EU
South Korean automaker KG Mobility [003620.KS] on Wednesday launched an electric version of its Torres SUV, called the Torres EVX, a first step in its mission to diversify its range of electric vehicles (EVs) and triple annual sales. Elsewhere, Vietnam’s VinFast [VFS] on Thursday announced it has received regulatory approval to start shipping EVs to the EU. Some 3,000 of its VF8 crossovers will be delivered to the bloc in the fourth quarter of this year, Reuters reported.
Big Moves in Food Delivery
Among other new features, Uber [UBER] is to roll out an artificial intelligence (AI)-powered assistant on its food delivery platform, which will help users try out new options and find deals. Delivery Hero [DHER.DE] confirmed that it is to sell a large portion of its Asia business, with Singapore’s Grab [GRAB] reportedly set to pay more than €1bn for it. After a heartening debut, Instacart’s [CART] stock closed nearly 11% lower on Wednesday.
Amazon Unveils New Products
Amazon [AMZN] announced on Wednesday that it is to partner with Italy’s Safilo [SFL.MI] on new Carrera-branded smart glasses, which will use Amazon’s Alexa technology and be sold in the US. Amazon also said it is abandoning a plan to charge merchants an additional 2% fee if they do not use its shipping services, which had been set to go into effect 1 October. The announcement came after Bloomberg reported Wednesday that the e-commerce giant could be facing antitrust scrutiny from the US Federal Trade Commission.
Nio Launches Smartphone
On Thursday leading Chinese EV brand Nio [NIO] released an Android smartphone. CEO William Li told CNBC that the company expects at least half its users to buy the phone, which will be priced between $900 and $1000 — about $150 less than a similar Huawei model. The phone will interface frictionlessly with Nio’s EVs, and comes with a special button which enables users to unlock and power on their cars.