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Sensex tanks over 1,200 points to go below 58,000-mark

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Sensex tanks over 1,200 points to go below 58,000-mark

The Sensex fell more than 1,200 points after opening hours, falling below the 58,000 mark. It is currently trading at 57,797. Stocks saw heavy selling pressure for the fifth straight session.

The Sensex opened in the red at 59,023.97 and fell to a low of 58,250.89 in early Monday trade.

The Sensex gained 2,271 points last week.

Meanwhile, the Nifty 50 index of the National Stock Exchange fell to 17,383.55 points, down 233.60 points or 1.33% from the previous close of 17,617.15 points.

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There is widespread selling pressure. Of the 30 stocks on the Sensex, only 6 are trading actively. These include ICICI Bank, Bharti Airtel and Reliance Industries.

Bajaj Finance fell 4.33 percent to Rs 7,052.55. Tech Mahindra fell 4.17 percent to Rs 1,527.75. Wipro fell 3.90 percent to Rs 581.60.

Tata Steel fell 3.46% to Rs 1,128.65; Titan fell 3.37% to Rs 2,443.60; Asian Paints fell 3.16% to Rs 3,169.50; Bajaj Finserv fell 2.96% to Rs 15,849.85; HCL Technologies fell 2.25% to Rs 1,141.55, Infosys A 2.06 percent fall to Rs 1,749.30 was one of the Sensex’s key losers. Food delivery platform Zomato fell 19% and online retailer Nykaa slumped 11.2%, hitting its lowest level since its 2021 debut.

Last week, a sell-off in global tech stocks triggered a slide in Indian tech stocks as investors worried about high inflation and prepared to tighten monetary policy.

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Investors are now looking forward to this week’s Federal Reserve meeting, where the central bank is expected to confirm that it will soon begin pumping out the massive liquidity lake that has boosted growth stocks in recent years.

Complete News Source : Hindustan Times

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OpenAI buys new domain chat.com for over $15 million, it redirects to ChatGPT

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OpenAI buys new domain chat.com for over  million, it redirects to ChatGPT

The previous owner of the domain turned out to be Dharmesh Shah, founder and CTO of software company HubSpot

OpenAI has bought the domain chat.com. Clicking on it automatically routes you to the ChatGPT website.

The AI giant’s CEO Sam Altman announced this on Thursday, November 7, 2024, by simply posting the URL on X (Formerly Twitter) without any description or reasoning.

Altman’s post has already gotten over 3 million views and nearly 15k likes. The domain purchase is likely part of a rebranding effort.

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The domain’s previous owner turned out to be Dharmesh Shah, founder and CTO of software company HubSpot. Shah announced this in posts on X and LinkedIn.

Also Read: Elon Musk’s net worth surges by $26.5 billion after Donald Trump wins US election; Bezos, Ellison, Buffett follow suit

In his post, he detailed how he had purchased the domain for $15.5 million earlier this year and sold it later to an undisclosed (at that time) buyer.

“Well, in an 8 character tweet (talk about brevity), Sam Altman, the CEO of OpenAI revealed that they were the buyer,” he wrote. ”If you visit the website now, it goes to ChatGPT.” Shah wrote he was not at liberty at that time to share who the acquirer was as he was “going to leave that to them, when they were ready.”

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He then went on to share GPT o1 prompt which reasoned the entire episode. “When he does sell a domain, it’s almost never at a loss,” and “Dharmesh doesn’t like profiting off of people he considers friends,” the prompt read, which could mean he did sell it for more than the $15.5 million he bought it for, since it also says he doesn’t like referring to himself in the third person.

However, its also indicated he got compensated in OpenAI shares since the prompt reads that he “always wanted to own OpenAI shares,” that “he doesn’t need the cash from a domain sale,” and that “he made a non-humble brag earlier this year that he’s now an investor in OpenAI.”

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