markets

Claire Yubin Oh10/30/25

OpenAI has started work on an IPO that could value the company at $1 trillion

OpenAI is preparing for an initial public offering that could value the company as high as $1 trillion.

Citing three people familiar with the matter, Reuters reports that the ChatGPT maker is considering filing with regulators as soon as the second half of 2026, despite CFO Sarah Friar reportedly having previously told associates that the company was aiming for the year after.

The news comes just two days after the company completed its restructuring into a nonprofit that has a controlling equity stake in its for-profit business.

While the talks are obviously still in very preliminary stages, OpenAI is currently considering raising $60 billion, or likely more through the process, per Reuters’ sources — much-needed capital to satisfy the flurry of deals the company has signed with chipmakers and data center providers.

Having pledged to spend an eye-watering $1 trillion on advancing its AI models and products, but with a revenue run rate that’s currently closer to $12 billion, maybe OpenAI really is finding that there is a limit to what it can raise in the private markets.

OpenAI Anthropic revenue — Sherwood News

OpenAI’s annual revenue run rate is reportedly expected to reach ~$20 billion by the end of the year.

Exclusive: OpenAI lays groundwork for juggernaut IPO at up to $1 trillion valuation

Exclusive: OpenAI lays groundwork for juggernaut IPO at up to $1 trillion valuation

The news comes just two days after the company completed its restructuring into a nonprofit that has a controlling equity stake in its for-profit business.

While the talks are obviously still in very preliminary stages, OpenAI is currently considering raising $60 billion, or likely more through the process, per Reuters’ sources — much-needed capital to satisfy the flurry of deals the company has signed with chipmakers and data center providers.

Having pledged to spend an eye-watering $1 trillion on advancing its AI models and products, but with a revenue run rate that’s currently closer to $12 billion, maybe OpenAI really is finding that there is a limit to what it can raise in the private markets.

OpenAI Anthropic revenue — Sherwood News

OpenAI’s annual revenue run rate is reportedly expected to reach ~$20 billion by the end of the year.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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