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Record Defaults Hit $800 Billion Chinese Local Debt Market

(Bloomberg) — Defaults in an opaque corner of China’s local debt market have surged to a record high, ensnaring investors who’d assumed the securities had an implicit guarantee from the state. Most Read from Bloomberg It wasn’t supposed to be this way. Last year, confronted with a wave of bad …

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OpenAI reportedly plans to release its Orion AI model by December

OpenAI is reportedly planning to release its next frontier AI model, codenamed Orion inside the company, by December of this year, The Verge reported on Thursday. Unlike previous releases, the company reportedly plans to release the model gradually to trusted partners before a broader rollout through ChatGPT. An OpenAI spokesperson …

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