Shares of Chipotle had their best day in more than four years. Despite the surge, the stock is still way off its all-time high of nearly $760. Jeff Bernstein, Senior Restaurant Analyst at Barclays, was with us to discuss whether the hiring of its new CEO will be enough to fuel a turnaround for Chipotle.
Chipotle tapped Taco Bell's CEO, Brian Niccols. Investors were on board with the move, sending shares soaring. Bernstein said it will take some time for consumers to jump on board. Chipotle is not a major media advertiser, so getting the new message across won't be immediate, the analyst adds.
During his time at Taco Bell, Mr. Niccol played a key role in bringing life back to the brand, bringing innovative food items to the menu. His marketing background helped get consumers excited about items such as Quesarito, Naked Chicken Chalupa and Nacho Fries. Bernstein said he expects to see some new product news at Chipotle, but acknowledges the assembly-line structure will keep them somewhat limited.
OpenAI has announced that ChatGPT will soon engage in "erotica for verified adults." CEO Sam Altman says the company aims to allow more user freedom for adults while setting limits for teens. OpenAI isn't the first to explore sexualized AI, but previous attempts have faced legal and societal challenges. Altman believes OpenAI isn't the "moral police" and wants to differentiate content similar to how Hollywood differentiates R-rated movies. This move could help OpenAI, which is losing money, turn a profit. However, experts express concerns about the impact on real-world relationships and the potential for misuse.
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