ABCNEWS - OpenAI, company behind ChatGPT, files for IPO
The company behind ChatGPT valued itself at $852 billion in March.
NYTIMES (Mike Isaac and Cade Metz) - OpenAI Prepares to File to Go Public in Coming Weeks
OpenAI would be one of the most highly anticipated potential initial public offerings, in what is set to be a major year of I.P.O.s for Silicon Valley.
HUFFPOST - Microsoft Plunges, Meta Rallies As Investors Demand AI Payoffs
Microsoft dropped 10%, shedding more than $350 billion in market value after its cloud business failed to impress, while Meta gained 10%.
AI:Microsoft’s market value cratered by over $350 billion following a massive 10% plunge triggered by lackluster performance in its cloud sector, signaling a major reality check for tech giants relying heavily on AI hype rather than tangible returns. While investors punished Microsoft for failing to meet expectations, Meta managed to rally with a 10% surge as capital began shifting toward companies capable of delivering actual profitability from their artificial intelligence investments. This market volatility underscores the growing demand for immediate payoffs and exposes the fragility of valuations built on speculative technology spending.Open
NYTIMES (Cade Metz and Karen Weise) - OpenAI in Talks to Raise as Much as $100 Billion
OpenAI’s discussions with Microsoft, Nvidia, Middle Eastern sovereign wealth funds and others could value it at $750 billion or more.