Top movers from Thursday's session 📈

Good Afternoon! 

Hey, everyone. It's Adam from Elite Trade Club. 

Here’s what moved the market today.

Markets 📈

Stocks edged higher on Thursday after another day of modest gains. The Nasdaq led for the third day in a row, while the Russ2K rebounded after a modest pullback on Wednesday.

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Market-Moving News 📈

OpenAI, Microsoft Sued by Center for Investigative Reporting Amid Rising AI Copyright Battles ⚖️

The Center for Investigative Reporting (CIR), the oldest nonprofit newsroom in the U.S., has filed a federal lawsuit against OpenAI and its primary backer, Microsoft, for alleged copyright infringement. This legal action adds to the growing list of similar lawsuits from prominent publications like The New York Times, Chicago Tribune, and the New York Daily News.

Allegations 📑
Filed in the Southern District of New York, the CIR's lawsuit accuses OpenAI of using its content without permission or compensation. The complaint states that OpenAI “copied, used, abridged, and displayed CIR’s valuable content” without authorization.

Monika Bauerlein, CEO of CIR, criticized OpenAI and Microsoft for what she termed "free rider behavior," accusing them of using journalistic content to enhance their product without proper licensing.

Seeking Damages 💰
The CIR seeks actual damages and profits from the defendants or statutory damages of no less than $750 per infringed work and $2,500 per Digital Millennium Copyright Act (DMCA) violation.

The lawsuit claims that OpenAI trained its ChatGPT chatbot to disregard copyright laws, exacerbating the infringement by not acknowledging or respecting the original content creators' rights.

Licensing Agreements 🤝
While some news organizations are pursuing legal action, others are forming partnerships with OpenAI. Time magazine and OpenAI recently announced a multi-year content deal, allowing OpenAI to access and use Time's current and archived articles for enhancing its AI models.

Similarly, OpenAI has partnered with News Corp. and Reddit, gaining access to their extensive content archives for AI training purposes.

Future Implications 📆
The outcome of these legal battles could have significant implications for the use of journalistic content in AI training. As the news industry grapples with the financial challenges posed by declining advertising and subscription revenues, these lawsuits underscore the ongoing tension between traditional media companies and emerging AI technologies.

'The resolution of these cases will likely influence future collaborations and the legal landscape surrounding AI and intellectual property rights.

GeoVax [GOVX] $3.55 (+76.1%)
received a BARDA Project NextGen award to conduct a study evaluating its COVID-19 vaccine candidate GEO-CM04S1.

Inspire Veterinary [IVP] $2.22 (+64.4%)
filed a Form S-1/A on Wednesday morning that amended the S-1/A it issued earlier in the week, prompting a run-up in share prices.

XBP Europe [XBP] $1.93 (+60.8%)
secured a $48 million financing deal with HSBC UK Bank.  

Griid Infrastructure [GRDI] $1.22 (47.8%)
inked a definitive merger deal with CleanSpark [CLSK <0.1%] with a total enterprise value of $155 million, including debt assumptions.

Immutep [IMMP] $1.87 (32.4%)
fell after analysts from Baird lowered their price target on the stock from $7 to $6 while maintaining an “outperform” rating.

Nano Nuclear [NNE] $16.22 (32.4%)
extended its recent pullback after rallying earlier in the week on news of a massive price target hike from analysts at Benchmark.

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback from our members!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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