Brianne Doherty

I think that there's clearly a lot happening, right?

And the integration that we're having between the private markets as well as the public markets is clearly something to be watching.

It's a space that we follow very, very closely.

We think that actually what we've been seeing with OpenAI's relationships is the fact that they're broadening them.

They're creating structures that are allowing them to potentially IPO long term.

Hmm.

That's obviously something that's been talked about, I think over the last couple of weeks especially.

And what we're thinking when we look at these big companies, so we've got a few hecticorns that we watch very closely and actually open it.

Hecticorns.

I'm pretty sure it's a term.

Over $100 billion, that's what we call them.

We've got three of them in the data set that we track, over 12 actually decacorns that we also track really, really closely in our data sets.

OpenAI, Anthropic, XAI.

Naturally, right now, at their current implied valuations, they would rank in the top 30 if they were public and in our Bloomberg benchmark AI index, which has over 120 equities in it.

So the scale of these companies is huge.

The partnerships they are forming are critical.

And we do think, we're not in the bubble camp, we do think that there's a lot of opportunity down the road as it relates to this.

Yeah, I think you do have to have a certain bit of belief, right?

I think what we've seen is even over the last year, we've seen open AI's implied valuation more than double, right?

I mean, naturally a lot has happened in that AI ecosystem, and actually something that we've been really focused on, and Jensen actually said something the other day about this as well,