Record Closing Highs, GPT-5 Unleashed, and a $500 Billion Surprise – Business News Roundup (Aug 9–10, 2025)
The Nasdaq Composite notched its 18th record closing high of 2025. OpenAI released GPT-5 on August 7, billed as the “smartest, fastest, most useful” model, now available to 700 million ChatGPT users, with a target of a $500 billion valuation in secondary-share sales. Federal Reserve Vice Chair Michelle Bowman signaled three rate cuts likely by year-end, with easing possibly starting in September. The White House issued an executive order to expand 401(k) access to alternative assets like crypto and private equity, amid concerns about liquidity and higher fees on an estimated $10 trillion in 401(k) assets. Nexstar Media Group was
