Sydney-based hedge fund GCQ Funds Management said the bottom is in for the software selloff, snapping up about A$200 million ($143 million) worth of tech stocks caught in the downdraft.

Netflix has decided not to increase its bid for Warner Brothers Discovery, citing that the deal is no longer financially attractive despite previously considering it value-creating. This announcement follows Paramount's offer being declared the superior deal by Warner Bros. Seven Letter Partner Annalyse Keller, Democratic Strategist Arshi Siddiqui and Bloomberg's Kailey Leinz discuss on "Balance of Power: Evening Edition." (Source: Bloomberg)

OpenAI Inc. told Canadian lawmakers it would have referred a banned ChatGPT user who later became the chief suspect in one of the country’s worst-ever mass shootings to police under newly updated policies.

Nvidia, the dominant maker of artificial intelligence chips, suffered its worst stock decline in 10 months after the company’s latest forecast failed to dispel fears of an AI bubble. The shares fell 5.5% to $184.89 in New York, marking the biggest one-day drop since April 16. The decline followed a first-quarter sales outlook that — on its face — looked impressive. Nvidia easily beat the average analyst estimate and delivered a 73% surge in fourth-quarter revenue. The reaction was a stark reminder of the skepticism now surrounding Nvidia. After explosive sales growth turned the chipmaker into the world’s most valuable company, investors are seeking stronger assurances that booming AI spending can be maintained. Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani, and Senior Technology Credit Analyst Robert Schiffman both join Bloomberg Businessweek Daily to discuss. They speak with Carol Massar and Tim Stenovec. (Source: Bloomberg)

Andy Florance, CEO of CoStar Group, discusses the company’s new AI initiative in real estate, Home AI, a fully integrated native AI solution designed specifically for the sector, with Romaine Bostick and Bailey Lipschultz on “The Close.” (Source: Bloomberg)

Oil steadied after the US and Iran agreed to more nuclear talks next week following a round of discussions on Thursday, as a huge deployment of American forces in the Middle East kept the market on edge.

Gold steadied after the US and Iran agreed to prolong nuclear talks, keeping markets on edge about the potential for conflict in the Middle East.

Asian stocks looked set to pull back modestly from record levels after a lackluster day for Nvidia Corp. dulled Wall Street sentiment after its results. Treasuries rose and oil whipsawed.

Warner Bros. Discovery said a new $111 billion offer from Paramount Skydance is a better deal for shareholders than the one it agreed to earlier with Netflix. Netflix will now have four business days to come up with a new proposal that beats Paramount or it will lose the fight for one of the industry’s oldest film and TV studios. Paramount has offered $31 a share for all of Warner Bros. while Netflix has bid $27.75 a share for the company’s studios and HBO business. Paramount Chief Executive Officer David Ellison has been pursuing Warner Bros. for months, efforts that prompted the parent of HBO and CNN to put itself up for sale in October. After Warner Bros. signed a deal in early December with Netflix, Paramount kept up the fight. Bloomberg News Senior Editor and Entertainment Team Leader Chris Palmeri joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)

Netflix Inc. dropped out of the fight to buy Warner Bros. Discovery Inc., clearing the way for rival bidder Paramount Skydance Corp. to clinch its $111 billion deal for the historic Hollywood studio.