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Chapter 1: What is the main topic discussed in this episode?
The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day. My fellow Americans, this is Liberation Day. Stories that move markets. Chair Powell opened the door to this first interest rate cut. Impact politics. Change businesses. This is a really stunning development for the AI world. And how you think about your bottom line.
Listen to The Big Take from Bloomberg News every weekday afternoon on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
News when you want it with Bloomberg News Now. I'm Tiwa Adebayo.
And I'm Stephen Carroll.
OpenAI has filed confidentially for an IPO as it joins rivals in tapping public markets to fund ambitious growth plans. Sources tell us that the maker of ChatGPT is working with Goldman Sachs and Morgan Stanley on a potential listing as soon as this autumn. Though the company remains synonymous with the sector, OpenAI now faces increasing competition from rival Anthropic and others.
Michael Hyther is our U.S. deals editor.
In its last funding round, OpenAI was valued at $152 billion. That's a lot of money. If you think about sort of a rough gauge of anywhere from, say, 2% to 5% of a valuation being raised, that adds up pretty quickly.
Michael Hyther speaking there as a growing number of chief technology officers push for greater AI cost efficiency. Cheaper Chinese models are putting pressure on AI token pricing, raising questions about how much companies are willing to pay for premium models.
If that trend continues, it could challenge the economics behind the hundreds of billions of dollars US firms are investing in AI infrastructure.
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Chapter 2: What major developments are happening in the AI IPO landscape?
Well, turning to Apple now, which has launched a new set of tools for the AI era, but says some won't be available in the European Union due to EU regulation. Its latest software will power the next generation of Apple's products and include an AI-powered version of Siri. Bloomberg Tech's Ed Ludlow says it could be groundbreaking.
Siri AI will work across iOS with iPhone, macOS with Mac, iPadOS with iPad. You get the idea. The whole point is that you can start a project, something meaningfully useful on one device and carry it over into another. It takes Siri from a place where it's a feature, it's a single prompt that elicits a single result, to a multi-step task.
Ed Ludlow speaking there.
Chapter 3: How is OpenAI's IPO expected to impact the market?
But Apple is in a standoff with EU regulators over whether its new tools protect user privacy. The company says it won't launch its new Siri AI assistant in either the EU or China as it engages with regulators.
And Iran and Israel have agreed not to strike each other as long as they are not attacked after a recent escalation in violence threatened peace talks. After President Trump's appeal for de-escalation, Israel's leader Benjamin Netanyahu said his country would hold fire.
His remarks follow Iran also announcing an end to its military operations against Israel, though its central military command vowed much harsher action if Israel continued to attack. Oil dipped on news of the agreement, with Brent crude slipping below $93 a barrel after closing slightly higher on Monday.
Well, on the markets, we're looking at the stock 600 up by four tenths of one percent, gaining a little bit of speed as the trading session continues. The FTSE 100 still in the red, though, down three tenths.
Chapter 4: What challenges does OpenAI face from its competitors?
We're still seeing that strength in the Italian market with the FTSE May up by one point six percent. We're watching Italian banks with Banco Monte de Paschi de Siena and Intesa San Paolo and Banco BPM, all three of them involved in this battle, really, for ownership of Monte de Paschi, all higher this morning. Again, Wall Street futures up as well. Nasdaq's
Futures up by seven tenths of one percent. So the AI rebound looks set to continue. S&P E-minis are four tenths higher this morning. Oil prices are lower. Brent crude's down by 1.9 percent to $92.50.
That's news when you want it with Bloomberg News Now. I'm Tiwa Adebayo.
And I'm Stephen Carroll. And this is Bloomberg.
The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day. My fellow Americans, this is Liberation Day. Stories that move markets. Chair Powell opened the door to this first interest rate cut. Impact politics. Change businesses. This is a really stunning development for the AI world. And how you think about your bottom line.
Listen to The Big Take from Bloomberg News every weekday afternoon on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day. My fellow Americans, this is Liberation Day. Stories that move markets. Chair Powell opened the door to this first interest rate cut. Impact politics.
Change businesses. This is a really stunning development for the AI world. And how you think about your bottom line. Listen to The Big Take from Bloomberg News every weekday afternoon on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
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