OpenAI Secures Massive Investment
OpenAI, the non-profit artificial intelligence company behind ChatGPT, has raised $830 million in new capital as part of its plan to raise up to $4 billion this year. This investment comes at a time when the company’s business is showing signs of acceleration, with plans to launch the next generation of its assistant, GPT-5, this month.
Investment Details
The investment round was led by Investment Group, contributing $2.8 billion, alongside Blackstone, TPG, T. Rowe Price, Fidelity, Founders Fund, Sequoia, Andreessen Horowitz, Coatue, Altimeter, D1 Capital, Tiger Global, and Thrive Capital.
Walmart Mexico Executive Resigns
Walmart México and Central America, the largest retail chain in Mexico, announced that its CEO and Chief Executive Officer, Ignacio Caride, resigned following a poor report that led to the stock’s lowest level in almost five years.
Following the decision, the board of directors appointed Cristian Barrientos Pozo, the current president and CEO of Walmart Chile, as his interim successor.
Caride will step down from the board, leaving a position he took in April 2024 when Guilherme Loureiro, the current board chairman, assumed responsibility for overseeing Walmart’s operations in Mexico, Central America, and Chile.
Finsus Launches Digital Financial Education Platform
Finsus, a sophistico-fintech specializing in personal loans, SME financing, and remittances, launched the fully digital platform “Finanzas para Expertos” to provide free financial education to the general public, particularly entrepreneurs and microenterprises, through 25 specialized courses.
According to Norman Hagemeister, President of Finsus’ Board of Directors, financial well-being begins with understanding money, credit, savings, and investments. Thus, their proposal is to democratize access to information through this educational system.
Finsus anticipates receiving a digital banking license this year, as they have submitted an application to the Mexican National Banking and Securities Commission (CNBV) by the end of 2024.
BACO Faces Legal Challenges
BACO, the renowned stationery brand, is dealing with a more severe issue than its geometry and general stationery products can resolve.
Amidst unpaid licensing fees, disagreements among shareholders—who happen to be the same family—allegations of fraudulent management, requests for company account reports from two brothers owning 29% of the company, and judicial intervention in Mexico City, BACO is facing a more critical situation than the angle calculated and drawn with the carrier of this brand that everyone has used at some point.
