OpenAI investors have proposed a new funding round valuing the company at $1.2 trillion, though the company says no formal discussions are underway. OpenAI, which raised $122 billion in March, is preparing for an expected IPO in 2027, though CEO Sam Altman recently suggested timing concerns due to ongoing AI safety issues.
OpenAI launched ChatGPT for Financial Services, a tailored AI tool designed to automate research, financial analysis, and presentation creation for investment bankers. Developed with design partners Morgan Stanley and Evercore, the product uses GPT-6 Astra and threatens to displace entry-level banking roles traditionally filled by junior analysts.