OpenAI says its board of directors has unanimously rejected a $97.4 billion takeover bid by Elon Musk.

“OpenAI is not for sale, and the board has unanimously rejected Mr. Musk's latest attempt to disrupt his competition," said a statement Friday from Bret Taylor, chair of OpenAI's board.

OpenAI attorney William Savitt in a letter to Musk's attorney Friday said the proposal “is not in the best interests of OAI's mission and is rejected.”

Musk, an early OpenAI investor, began a legal offensive against the ChatGPT-maker nearly a year ago, suing for breach of contract over what he said was the betrayal of its founding aims as a nonprofit he helped found a decade ago.
Then on Monday, while that case was still awaiting a key ruling, Musk and his own AI startup, xAI, and a group of investment firms announced a bid to buy the nonprofit that controls OpenAI. Musk in a court filing Wednesday expanded on the proposal to acquire the nonprofit's controlling stake in the for-profit OpenAI subsidiary.

Savitt's letter Friday said that filing added “new material conditions to the proposal. As a result of that filing, it is now apparent that your clients' much-publicized bid' is in fact not a bid at all.” In any event, “even as first presented,” the board has unanimously rejected it, Savitt said.

Musk has alleged in the lawsuit that the companies are violating the terms of his foundational contributions to the charity. Musk had invested about $45 million in the startup from its founding until 2018, his lawyer has said.

He escalated the legal dispute late last year, adding new claims and defendants, including OpenAI's business partner Microsoft, and asking for a court order that would halt OpenAI's plans to more fully convert itself into a for-profit business. Musk also added xAI as a plaintiff, claiming that OpenAI was also unfairly stifling business competition.

A judge is still considering Musk's request but expressed scepticism about some of his claims in a court hearing last week.

[telegraphindia]

Meta is betting big on humanoid AI-powered robots, Bloombergreports.

The company has reportedly formed a new division within its Reality Labs unit, which developed the Meta Quest VR headset, which will initially focus on developing hardware for robots that can assist with physical tasks like household chores.

The unnamed new division will be led by Marc Whitten, former CEO of General Motors' self-driving car division Cruise, and it will look to hire 100 engineers in 2025. The company has reportedly already begun talks with robotics companies like Chinese firm Unitree Robotics and US startup Figure AI.

But rather than directly launching a branded robot, like Tesla's Optimus, Meta plans to develop AI systems, sensors, and software for robots that will then be manufactured and sold by a range of companies, much like how smartphone manufacturers all over the world use Google’s Android operating system. Meta is allegedly aiming for its upcoming LLaMA language model to become “a foundation for robotics researchers around the world.”

Though Meta isn't aiming squarely at the consumer market, Bloomberg reports that Meta still plans on building hardware, using existing components, and will build prototypes for testing purposes. However, the sources said that Meta hasn’t ruled out the option of one day launching a consumer-facing robot.

Rather than working separately from its AR and VR projects, Meta executives reportedly hope that the division will be able to leverage data collected from the firm’s augmented and virtual reality devices to spur advances in robotics. This shouldn't come as that much of a surprise, Meta has been open about its plans to use data collected from its Quest VR headsetsto improve its products.

But robotics aficionados shouldn’t get their hopes up, at least in the short term. A source with knowledge of the project told Bloomberg that it “could be years” before Meta’s platform is ready to power third-party robotics.

It’s not just Meta turning its eye toward humanoid robotics. Apple analyst Ming-Chi Kuo saidthe iPhone maker is “exploring both humanoid and non-humanoid robots for its future smart home ecosystem, though the products are still early proof-of-concept (POC) stage internally.”

Meanwhile, Nvidia has also been bullish on the future of robotics and physical AI. At CES 2025 last month, CEO Jensen Huang predicted the market for humanoid robotics could soon hit $38 billion in the coming decades, saying that “the ChatGPT moment for general robotics is just around the corner.”

[uk.pcmag]

President Javier Milei advertised a crypto token meant to help local Argentine businesses, but his support was met with widespread concern about a potential scam and he deleted the post.

Milei initially promoted the LIBRA token late Friday in a post on X, saying the money raised would go to help small and medium-size companies in Argentina and stressing that the project was privately run. In a text message, he added that he would reap no personal financial benefit from the venture.

The token’s name appeared to be in reference to Milei’s political party, La Libertad Avanza, or his libertarian roots as an economist. Milei told Bloomberg he met with the company behind the coin, KIP Protocol, months ago. The company’s website includes a blog post featuring a selfie with its co-founder and the Argentine president giving a thumbs-up dated Oct. 20.

Argentines immediately began to panic over whether the president’s social media was hacked or if Milei himself had been duped by crypto scammers.

Community notes published on X — the social-media platform owned by Milei’s ally Elon Musk — cautioned people against the coin. Crypto scams, often called “rug pulls,” are rife on social media.

Milei deleted the initial post five hours later, saying he was “not aware of the details of the project and after having become aware of it I decided not to continue spreading the word.”

Despite being a Wall Street darling, Milei has so far struggled to lure foreign investment into Argentina even as his government crushes inflation and passes business-friendly reforms. He still hasn’t dismantled the complex currency controls his administration inherited more than a year ago, though Argentina’s economy is expected to grow again in 2025 after two years of punishing recession.

Even before Friday’s token drama, headwinds were building in Buenos Aires. US President Donald Trump’s tariffs stand to disproportionately hit Argentina, while Nissan is cutting back car production and Mercedes-Benz is leaving the country after more than 70 years. Argentina’s economic lifeline, the Rio Parana that carries most of the country’s farm exports, faced a setback after Milei’s government canceled an auction to dredge it deeper after receiving just a single bid as ships struggle to navigate narrow waters.

Asset managers, ranging from wealth management companies to hedge funds and pension funds, boosted allocations to U.S. exchange-traded funds tied to the price of bitcoin in the fourth quarter of 2024, as the price of the world's largest cryptocurrency soared 47%, according to recent regulatory filings.

The State of Wisconsin Investment Board disclosed in its quarterly 13-F filings with the Securities and Exchange Commission that its bitcoin ETF holdings more than doubled in the final three months of last year, to 6 million shares of the iShares Bitcoin Trust ETF by December 31. The fund, which was the first fund of its kind to report investing in crypto following the debut of bitcoin ETFs, couldn't immediately be reached for comment.

Other large investment funds also boosted their holdings in the ETFs, which launched in January 2024.

Tudor Investment Corp, a systematic hedge fund manager, reported its holdings of the iShares ETF -- now the largest of the pack, with more than $55 billion in assets -- climbed to 8 million shares, from 4.4 million shares. The value of those holdings also soared, reflecting bitcoin's jump in value, hitting $426.9 million, up from $159.9 million at the end of September. Tudor didn't immediately respond to a request for comment.

An Abu Dhabi sovereign wealth fund, Mubadala Investment Co, reported its first foray into bitcoin ETFs in the fourth quarter, taking a 8.2 million share stake in the iShares ETF that was worth $436.9 million.

Hedge fund Hunting Hill Capital had no exposure to these ETFs as of the end of the third quarter, but by December 31 had re-emerged as a significant investor, with positions valued at about $131 million by the end of the year.

"We’ve been actively trading within the broader crypto ETF complex, and the timing of the third-quarter filing may not have aligned with when we bought and sold various ETFs," said Adam Guren, founder and chief investment officer of the firm.

The ranks of those adding to positions included financial advisory firms whose clients have been eager buyers of bitcoin ETFs. Cetera Advisors and NewEdge Advisers were among firms that boosted holdings in several of the ETFs, including products offered by Fidelity, ARK Investments and Invesco.

Other investors were more selective, the filings showed. Cresset Asset Management boosted its exposure to ETFs carrying lower fees, said Jack Ablin, the firm's chief investment officer.

"It's also possible right now to get attractive options pricing for collar strategies, allowing us to protect the downside while giving away less of the upside in exchange, on these bitcoin funds," Ablin said.

It's often difficult to make sense of regulatory actions and changes to the structure and size of regulatory units. In a quickly evolving sector like cryptocurrency, it's even more challenging than usual. Sometimes it's not certain whether a major new development is going to be a boost or lead to a bust -- and there can be persuasive arguments in both directions.

If you're planning substantial crypto investments, understanding regulatory shifts and their implications is crucial. So here's what the latest big change is and what you need to do about it to stay ahead of the game.

The wild west is about to get even wilder

According to a report by The New York Times published on Feb. 4, the Securities and Exchange Commission (SEC) will be reducing its 50-person cryptocurrency law-enforcement group in keeping with the preferred policies of the new presidential administration. It's unclear if any or all of the activities originally assigned to the group will be handled by the newly formed Crypto Task Force created as part of an initiative by the new administration.

Valentine’s Day celebrates partnerships—built on trust, balance, and mutual development.

The same principles apply to Forex trading, where understanding the dynamics between currency pairs unlocks beneficial opportunities.

This season of roses and chocolates, let’s dive into the “power couples” of the Forex market. Here’s what makes them tick and the lessons traders can learn from these dynamic duos.

1. EUR/USD: The Power Couple

In the Forex world, EUR/USD is the equivalent of a timeless power couple like David and Victoria Beckham. It dominates the global trading stage, accounting for nearly 24% of trading volume.

Why It Works:

The euro and the US dollar represent two of the world’s largest and most stable economies. This pair boasts high liquidity, narrow spreads, and predictable price movements, making it a top choice for all traders.

Love Lesson:

Strong foundations lead to long-lasting success. EUR/USD offers traders a dependable partnership, even in volatile markets.

2. GBP/JPY: The Rollercoaster Romance

Dubbed the “Dragon Pair,” GBP/JPY is a couple that thrives on drama and excitement. Its high volatility and wide price swings make it a favorite among thrill-seeking traders.

Why It Works:

The British pound is highly sensitive to economic news, while the Japanese yen is seen as a safe haven during uncertainty. Together, they create a dynamic pair that’s both unpredictable and rewarding.

Love Lesson:

Passion fuels excitement, but it also comes with dangers. Like this pair, taking calculated risks can lead to big rewards.

3. AUD/USD: The Reliable Partners

Known as the “Aussie,” the AUD/USD pair represents trust and stability. Its movements are closely tied to Australia’s commodity exports and global risk sentiment.

Why It Works:

This pair offers steady performance, especially during active trading hours, and correlates strongly with commodity markets like gold.

Love Lesson:

Reliability doesn’t mean boring—it means consistent growth. Traders value AUD/USD for its flexible opportunities.

4. USD/JPY: The Yin and Yang

The USD/JPY pair showcases how opposites attract. The US dollar’s economic strength meets the Japanese yen’s reputation as a safe haven during global uncertainty.

Why It Works

This pair thrives on balance. It’s highly liquid, offers narrow spreads, and is often used for both hedging and speculative strategies.

Love Lesson:

Harmony comes from understanding opposing forces. In trading or relationships, balance creates a winning partnership.

5. Exotic Pairs: The Adventurous Match

Traders looking for something different may find thrilling opportunities in exotic pairs like USD/ZAR—US dollar/South African rand.

Why It Works:

Although exotic pairs involve higher volatility and wider spreads, their potential for impressive profits appeals to adventurous traders.

Love Lesson:

Growth happens outside your comfort zone. Like trading exotic pairs—bold moves, backed by preparations, can pay off.

Lessons from Great Partnerships 

Strong relationships and successful trading share key principles:

• Understand the Dynamics: Every currency pair has unique traits—know what drives them.

• Adapt to Change: Markets, like relationships, evolve. Be flexible and adjust your strategies.

• Manage Risks: No relationship or trade is without challenges. Proper risk management ensures long-term success.

Celebrate Perfect Pairs This Valentine’s Day 

This Valentine’s Day, embrace the harmony between love and trading. Whether you’re navigating the steady stability of EUR/USD or the thrilling highs and lows of GBP/JPY, each pair offers lessons in balance, understanding, and opportunity.

At Octa, we celebrate partnerships of all kinds—both in life and the Forex market. As you trade this season, remember that finding your perfect pair is about collaboration and growth.

Happy Valentine’s Day from Octa!

[Nairametrics]

The Governor of Nasarawa State, Abdullahi Sule, has disclosed that his undergraduate days in the United States were not easy.

Naija News reports that Governor Sule said his skill paved the way for him when he graduated without having a certificate.

Sule said that his vision for skill-based knowledge for youths in the state was driven by his experience in the country, stressing that corporations achieve their goals with skilled workers, not certifications.

He stated this while he spoke at the inaugural Engineer Abdullahi Sule Colloquium in Lafia, with the theme “Technological-Driven Entrepreneurship as a Panacea for Unemployment and Catalyst for Economic Growth and Development”.

The governor explained that worked as a welder at night and schooled during the day to survive as an undergraduate in the United States.

“When I was graduating from Government Technical College Bukulu in 1980, I got a scholarship to study at Indiana University in the US. Then I worked as a welder at night and attended school in the day time just to make money through skills I acquired.

“Throughout the period of my stay in the university as I worked in the night, and after graduation, the first job I got, nobody asked me to present any certificate. All they needed was my skills and my ability to do the job,” he said.

Sule stated that his government planned to train would-be retirees who were still agile with technical skills and financial support to invest in the skills acquired, adding that youths would be trained with starter packs for self-employment.

[NaijaNews]

The former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has filed a lawsuit against the Assembly and the new Speaker, Mojisola Meranda, before the Lagos State High Court in Ikeja, challenging the legality of his removal from office.

The suit, which is yet to be assigned to a judge, seeks a court declaration that his colleagues in the House acted unlawfully by removing him while the Assembly was on recess.

In the application dated 12 February 2025 and filed by his lawyer, Chief Afolabi Fashanu, SAN, the plaintiff claimed that he was removed from his position on 13 January 2025 by 36 lawmakers while he was out of the country.

The impeached lawmaker is seeking the following reliefs: an order of the court to fix a date for an accelerated hearing of the case and to shorten the time allowed for the defendants to respond with counter-affidavits or written addresses to seven days after the hearing.

Obasa also asked the court to limit the time for the plaintiff to file replies on points of law to three days.

His application is based on nine grounds, focusing on the interpretation of various sections of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), and the Rules and Standing Orders of the Lagos State House of Assembly.

The plaintiff challenges the constitutionality of the Lagos State House of Assembly’s sitting and proceedings during recess without the Speaker convening the House or delegating authority to another person.

“Public interest necessitates that this case be heard and resolved quickly to avoid disruption of legislative activities in the state,” Obasa argued.

He maintained that the court must urgently determine the legality of the Assembly’s current leadership, as it violates applicable laws and rules.

He further asserted that the court holds inherent powers to grant expedited hearings and impose time limitations.

No date has been fixed for the hearing.

Obasa was impeached on 13 January while he was out of the country by more than two-thirds of the 40-member legislative house over alleged misconduct and other offences.

His deputy, Mojisola Meranda, was immediately elected as the new Speaker, making history as the first female to lead the legislative body in the South-West state.

Obasa returned to a welcome rally at his residence in GRA, Ikeja, on 25 January, maintaining that he was not afraid of being impeached but insisted that due process had not been followed.

The former Speaker alleged that his removal was orchestrated while he was away and accused the Lagos State Commissioner of Police of facilitating the process.

He claimed that security agents, led by the police commissioner, invaded the Assembly complex and his homes in Agege and Ikeja, locking his family indoors with over 200 officers present.

Obasa also dismissed allegations of misappropriation.

[DailyPost]

Singer L.A.X has shared how he begged his girlfriend to stay after discovering she cheated on him.

In a conversation with Chude Jideonwo, L.A.X recounted the incident where his girlfriend returned home intoxicated, and he found evidence of nfidelity on her phone. 

Instead of confronting her angrily, L.A.X said he surprisingly found himself begging her to stay in the relationship.

“I was dating this girl, she came in drunk and I held her to the bed. She even threw up. I checked her phone and I saw, ‘I enjoyed this night. I think we should do this again.’

“As I showed her the phone, she just looked at me and said, ‘He’s just my friend. We just spent the night.’ Trust me, it was me that was now begging. I said we can work it out and she said, okay, don’t worry,” L.A.X recounted