Mashadipati: OpenAI’s missed goals

Good morning. OpenAI partner stocks tumble on a report the startup missed key targets. Donald Trump is set to discuss an Iranian proposal to end the war. And new NBA teams in Las Vegas and Seattle may be worth billions. Listen to the day’s top stories.

— Marcus Wright

Market Snapshot
S&P 500 Futures	7,189.00	-0.2%
Nasdaq 100 Futures	27,256.25	-0.7%
Bloomberg Dollar Spot Index	1,198.73	+0.2%
Market data as of 07:14 AM ET. Data is subject to provider delays.	Your watchlist

OpenAI failed to meet its own goals for new users and sales, raising internal concerns about its ability to sustain spending on AI infrastructure, the Wall Street Journal reported. Shares of partners including SoftBank Group and Oracle fell on the report, adding to scrutiny of the sector ahead of earnings from Alphabet and other Big Tech firms tomorrow.

Donald Trump convened his national security team to discuss an Iranian proposal to end the war, though the New York Times reported he isn’t satisfied with the latest terms. In a potential boost for strained energy markets, the first liquefied natural gas shipment since the war began appears to have passed through the Strait of Hormuz. Iran may also face additional pressure to negotiate, with one estimate suggesting it is rapidly running out of storage for its crude oil.

Jimmy Kimmel defended a joke he made last week about Melania Trump having “a glow like an expectant widow,” prompting Trump to call for his firing. The late-night host cited his First Amendment right to free speech. In a fallout from the White House Correspondents’ Dinner shooting, key Republican senators are pushing to use federal funds for a White House ballroom, citing heightened security threats.

Mark Carney, Canada's prime minister, on Parliament Hill in Ottawa, Ontario, Canada, on Tuesday, April 14, 2026. In August 2025, Canada and Finland issued the Canada and Finland joint statement on foreign and security policy strategic partnership, which focuses on deepening partnership in foreign and security policy.

Some US Tariff-Relief Deals Are Worthless, Canada’s Carney Tells CBC

When Cobenfy was approved as a treatment for schizophrenia, the Bristol Myers Squibb drug was hailed as a game-changer for the 23 million people worldwide struggling with the condition. But more than a year after it came on the market, Cobenfy hasn’t lived up to the hype, with insurers imposing restrictions and some psychiatrists slow to prescribe it.

North Korean leader Kim Jong Un confirmed a policy requiring soldiers to commit suicide rather than be captured while fighting Russia’s war against Ukraine. Speaking at a ceremony in Pyongyang, Kim twice mentioned soldiers who had “self-blasted.” North Korea is believed to have suffered heavy casualties among the estimated 10,000 soldiers it has sent to assist Russia in the war.

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Deep Dive: Making Money in Prediction Markets

Photographer: Graeme Sloan/Bloomberg

Prediction markets are being pitched on social media as a lucrative side hustle for young Americans squeezed by rent and student debt. In reality, most traders are losing money, and often significant amounts.

The bulk of profits, among the winners, were raked in by a small group of what appeared to be automated bots, according to an analysis of Polymarket trade records, while everyone else, in aggregate, lost $131 million.
Polymarket has faced allegations of wash trading, coming from customers who are seeking cryptocurrency rewards, rather than a return on their trading.
Prediction markets have quickly grown from a niche corner of finance to a multibillion-dollar industry attracting Wall Street capital. But a growing list of insider trading allegations is bringing concerns about the platforms all the way to the White House.
In response, the industry is pouring money into Washington, hiring lobbyists to counter criticism that their platforms are fueling a surge in gambling.

The Big Take

A Russian influence operation uses fabricated videos, phony websites and anonymous influencers to spread tales about election fraud, corruption and sexual abuse. The disinformation campaign is at the heart of Russia’s hybrid-warfare strategy, alongside sabotage, assassinations and covert attacks on infrastructure networks.

A trader works on the floor at the New York Stock Exchange (NYSE) in New York, US, on Monday, April 6, 2026. Signs of last-ditch efforts to secure a truce in the war that has rattled global markets spurred a cautious advance in stocks as oil retreated. Photographer: Michael Nagle/Bloomberg

Big Take Podcast

The Stock Market’s ‘Curious Exuberance’

Opinion

It makes sense that in attempting to find a jury in the case of Musk v. Altman, US District Judge Yvonne Gonzalez Rogers chose to widen the pool of potential candidates for selection, Dave Lee writes. To many Californians, being asked to side with either Elon Musk or Sam Altman is like deciding between getting a slap in the face or a knee to the groin.

More Opinions

Kam Ghaffarian, founder and chairman of X-Energy, center, rings the opening bell during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Friday, April 24, 2026. X-Energy Inc., a nuclear energy firm that counts Amazon.com Inc. as a backer, raised $1.02 billion in an upsized US initial public offering that priced above the marketed range. Photographer: Michael Nagle/Bloomberg

John Authers

Hate to Suggest Partying Like It’s 1999, But...

NEW YORK, NEW YORK - AUGUST 01: A Robostore Advanced Humanoid Robot is demoed for passersby in front of The New York Stock Exchange during afternoon trading on August 01, 2025 in New York City. All three major stock indexes tumbled with the Dow Jones leading the way losing over 400 points amid signs of a weakening economy and U.S. President Donald Trump’s modified tariff rates. (Photo by Michael M. Santiago/Getty Images)

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I Built an AI Trading Platform in Six Days. That’s Terrifying.

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Before You Go

People watch the fountain show at the Bellagio Hotel and Casino before doors open to the public in Las Vegas, Nevada, U.S., on Thursday, June 4, 2020. All gaming venues in Nevada must follow strict protocols to account for Covid-19, including reduced capacity, more spacing on the casino floor and increased sanitation. Photographer: Joe Buglewicz/Bloomberg — *Photographer: Roger Kisby/Bloomberg*

The NBA has received expressions of interest from multiple investor groups for new teams in Las Vegas and Seattle that the league plans to sell for as much as $10 billion, according to people familiar. Las Vegas was long shunned by major sports leagues due to its association with gambling, though changing attitudes toward sports betting have weakened the taboo.

A Couple More

University of Leed's Parkinson Building, a Grade II listed building that serves as the main entrance and landmark for the university, situated on Woodhouse Lane. Photographer: Lorna Mackay/Bloomberg

Graduates Turn to Emergency Degrees to Ride Out Jobs Crisis

Milorad Dodik, Serb member of the Presidency of Bosnia and Herzegovina, during an interview at his office in Banja Luka, Bosnia and Herzegovina, on Wednesday, Jan. 19, 2022. Dodik, emboldened by cozy ties to Moscow and Belgrade, is pursuing policies that threaten to bring the region's simmering tensions back to a full boil, sparking unease among the majority non-Serb population of Bosnia-Herzegovina.

Trump’s Family and Friends Help Revive a Former Balkan Pariah

OpenAI’s missed goals