Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to have you here on this Thursday, October 2nd.

I'm Julie Morgan.

A $500 billion milestone, a $26 billion freeze, and a fresh bite from Amazon. OpenAI is worth $500 billion. The Microsoft

back company finalized a share sale that allowed current and former employees to sell stock

to the tune of $6.6.6 billion. 10.3 billion was authorized. Open AI was previously valued at 300 billion. We're diving

deeper into OpenAI's valuation in the Wall Street Breakfast newsletter. It's our daily one-page

news summary. A link to sign up for the newsletter is in the show notes section. The Trump

administration has moved to freeze or cancel about

$26 billion in funding for several infrastructure and climate-related projects across the U.S.

amid the federal government shutdown. The director of the Office of Management and Budget announced

on X that roughly $18 billion in New York City infrastructure

projects were put on hold. He wrote that this is to ensure funding is not flowing based on

unconstitutional DEI principles. He went on to say specifically the Hudson Tunnel Project

and the 2nd Avenue Subway.

The Department of Transportation issued a statement saying the two projects are under administrative review to check for any unconstitutional practices.

Project reimbursements cannot be processed, including a $300 million disbursement for the 2nd Avenue subway,

until the review is complete, which

will take time given the federal government shutdown. OMB also announced that nearly $8 billion

in funding for climate-related projects could be canceled in 16 states, including California and

New York. The Department of Energy said 321 financial awards

supporting 223 projects would be terminated, resulting in savings of $7.56 billion for the taxpayer.

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