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Google Has A New Competitor

OpenAI, Norvavax

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Good Morning!

It’s officially the weekend! What we are reviewing today:

👉 CHATGPT unveils new feature

👉 Novavax has a new partnership

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CHATGPT: New Feature

OpenAI is gearing up to reveal its latest AI-powered search tool on Monday, intensifying its rivalry with Google. This tool enables users to fetch information directly from the web, aiming to enhance response accuracy.

Source: VectorStock

In a parallel development, a competing startup, Perplexity, established by a former OpenAI researcher, has garnered attention for its AI-driven search interface. It boasts a substantial user base of 10 million monthly users. OpenAI is facing challenges with fluctuating website traffic, prompting the discontinuation of a feature called ChatGPT plugins. As they navigate these challenges, OpenAI remains focused on expanding its user base and consolidating its position in the AI-driven search landscape.

NOVAVAX: New Vaccine

Novavax and Sanofi have joined forces to market Novavax's COVID-19 vaccine next year and collaborate on combination shots targeting COVID-19 and the flu. This partnership caused Novavax's stock to soar by ~120% on Friday.

Source: MarketWatch

It's a big step for Novavax because they are facing financial difficulties. Sanofi will pay Novavax $500 million upfront, with the potential for an additional $700 million based on milestones. Novavax will also receive royalties on Sanofi's sales of COVID-19 vaccines and combination shots. As part of the agreement, Sanofi will acquire a minority stake in Novavax.

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