Copy of OpenAI Ends Cursor Partnership After SpaceX Acquisition; Nigeria's Remittance Hit Record ~$950 Million; Baldness Drugs Emerge As Wall Street's Post Ozempic Bet; & Terra Industries' Controvers
- Dipo Owolabi
- 6 hours ago
- 4 min read
The rivalry between Sam Altman and Elon Musk is spilling further into the AI industry, while Nigeria’s dollar inflows are reaching new highs and investors are turning their attention to an unexpected corner of healthcare. OpenAI plans to end its partnership with Cursor following its acquisition by SpaceX, while Nigeria recorded $947 million in formal remittances in July. Meanwhile, a new wave of baldness treatments is drawing investor interest, and Nigerian defence-tech company Terra Industries is taking its autonomous security systems into the commercial market. All this and more in today’s Read It And Eat! |
Markets as of 28th of August 2026.. Cells in RED mean that the value is down, cells in Green mean the value is up.
MAJOR HEADLINES
OpenAI To End Partnership With Cursor After SpaceX Acquisition
OpenAI said on Friday that it plans to stop providing AI models to Cursor, the coding-tool company now owned by Elon Musk's SpaceX, marking a further escalation in the bitter rivalry between OpenAI CEO Sam Altman and Musk.
Musk and Altman have been at odds for years, a feud that culminated earlier this year in a trial over Musk's $150 billion lawsuit against OpenAI. During the trial, Musk's lawyer said that Musk and other witnesses had testified that Altman was a liar, while OpenAI argued that Musk had sought control of the company.
We are making this choice because we cannot be confident that SpaceX will use our technology within our terms of service, based on our experience with Elon Musk's companies violating contracts," OpenAI said in a blog post. Musk responded early on Saturday in an X post, writing, "I couldn't care less." Bloomberg
Nigeria's Remittance Hit A Record ~$950 Million Record
Nigeria recorded $947 million in remittance inflows through International Money Transfer Operators (IMTOs) in July 2026, the highest monthly inflow ever recorded through formal channels.
The Central Bank of Nigeria (CBN) disclosed this in a statement released on Sunday. The figure brings the country $53 million short of the $1 billion monthly remittance target set by CBN Governor Olayemi Cardoso nearly two years ago.
According to the apex bank, remittance inflows through IMTOs reached $3.8 billion in the first seven months of 2026, representing a 50.2% increase compared with the same period in 2025. Nairametrics
Baldness Drugs Are Becoming Wall Street’s Next Big Bet
Drugmakers found a promising cure for the obesity epidemic and their stocks were rewarded for it. Now, investors are salivating over a new crop of companies tackling a more purely aesthetic problem: baldness. Pattern hair loss affects an estimated 50 million men and 30 million women in the US, but there have been no new approved drugs since the late 1990s.
The promise of novel treatments has sent shares of Veradermics Inc., which trades as “MANE,” up nearly 500% since the company went public in February, while Absci Corp.’s stock has more than doubled so far in 2026. Cosmo NV also had positive results for an experimental male hair-loss treatment, though the success of US competitors has weighed down its Zurich-listed shares.
Those who are ineligible for hair transplant surgery or can’t afford it are left with two main options: over-the-counter topical minoxidil, the active ingredient in Rogaine, or prescription finasteride, branded as Propecia. They can come with some debilitating side effects; minoxidil is linked to heart palpitations while finasteride is known to lower sex drive. Wall Street sees new treatments as an untapped goldmine, full of consumers who are willing to pay out-of-pocket for better options, reminiscent of the boom in GLP-1 weight-loss drugs. Fortune
Terra Industries' Controversial New Hire; Ex Palantir Exec To Lead Commercial Arm
Nigerian defence-tech company Terra Industries has launched a commercial division to sell its autonomous security systems directly to privately owned infrastructure operators, expanding beyond the government and military contracts that have defined its business since 2024.
The new unit will serve companies that own power plants, pipelines, mines, ports and refineries across Africa, the Gulf, South America and South Asia, sectors the company says lose billions of dollars annually to theft, sabotage, organised crime and operational inefficiencies. Its autonomous air and ground systems will provide perimeter security, threat detection and large-scale inspections, coordinated through ArtemisOS, its proprietary operating platform.
"Government and military work will always be central to Terra,” said co-founder and CEO Nathan Nwachuku. “But the commercial division gives us a constant flywheel of partnerships across industries, and it makes us a stronger business because it puts our technology to work for the companies actually building infrastructure across the Global South.” Technext
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