Ups and downs across the board today

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

The Dow Jones started off hot today but cooled to a slight gain as other indexes fell. Small-cap Russell 2K continues to outperform with another point gain.

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OpenAI Launches SearchGPT, Sparking AI Search Engine Revolution as Google Shares Slide

OpenAI has unveiled its latest venture, SearchGPT, marking a significant entry into the search engine market. This AI-powered search engine leverages real-time internet data to provide users with comprehensive and organized search results.

🔍 Beyond Traditional Search Engines

Unlike traditional search engines that return a list of links, SearchGPT offers detailed summaries and contextual information. For instance, a search query about music festivals will yield summarized descriptions of various events with direct attribution links. Similarly, a query on planting tomatoes provides step-by-step guidance and information on different tomato varieties.

💡 Key Features of SearchGPT

One standout feature is the ability to ask follow-up questions and explore additional relevant links through a sidebar. Another intriguing feature is "visual answers," though specifics about this were not disclosed before publication. An example query about "music festivals in Boone, North Carolina in August 2024" demonstrates SearchGPT’s capability to deliver up-to-date information, complete with source links.

🧪 Prototype Phase and Collaboration

Currently, SearchGPT is in its prototype phase, available to only 10,000 test users. Powered by the GPT-4 family of models, OpenAI is collaborating with third-party partners and using direct content feeds to refine search results. The long-term goal is to integrate these search features into ChatGPT, potentially posing a challenge to Google's dominance in the search market.

 🤝 Commitment to Content Attribution

OpenAI is also taking a careful approach to content attribution, addressing concerns raised against other AI-powered search engines like Perplexity. The company emphasizes collaboration with news partners, such as The Wall Street Journal, The Associated Press, and Vox Media. Publishers can manage how their content is used and ensure clear attribution and links in search responses.

 📊 Navigating Potential Inaccuracies

The launch of SearchGPT allows OpenAI to navigate potential inaccuracies by labeling it a prototype, much like Google did with its AI Overviews. As OpenAI continues to develop its real-time web integration, SearchGPT will be free during its initial phase. However, with the high costs of AI training and inference, monetization strategies will need to be addressed soon.

Predictive Oncology [POAI] $1.83 (+70.56%)
Predictive Oncology surged after its ovarian cancer study yields compelling results.

Viking Therapeutics [VKTX] $65.25 (+29.45%)
Viking Therapeutics showcased a new monthly weight-loss shot today, eliciting fear from competitors Novo Nordisk and Eli Lilly.

Goosehead Insurance [GSHD] $84.89 (+29.21%)
Goosehead Insurance returned to the light after an extremely favorable Q2 earnings call excited investors.

U2 Inc [TWOU] $1.59 (-61.41%)
U2 Inc suffered a heavy hit after a Chapter 11 bankruptcy filing.

EzFill Holdings [EZFL] $3.67 (-41.04%)
EzFill Holdings loses significant momentum just two days after a reverse stock split as it struggles to comply with NASDAQ listing requirements.

Maxlear [MXL] $14.18 (-36.38%)
Maxlear suffered a significant loss after June earnings and revenue considerably missed their marks.

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!

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

Best Regards,
— Adam G.
Elite Trade Club

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