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19.12.25 - 02:09
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Did Abu Dhabi Just Deliver A Santa Rally: OpenAI To Raise $100BN From Sovereign Wealth Funds (ZeroHedge)
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Did Abu Dhabi Just Deliver A Santa Rally: OpenAI To Raise $100BN From Sovereign Wealth Funds
While the broader stock market has meandered both higher and lower in the subsequent two months, the Mag 7 trade peaked on Oct 31 and has been drifting sideways - and lower - ever since.
What happened on that date? That was the day of the infamous All Things podcast, in which Brad Gerstner (an OpenAi investor) pointed out that the emperor is, indeed, naked and asked Sam Altman how a company with $13BN in revenue can afford $1.4 Trillion in commitments. Altman's non-reply? “Happy to find a buyer for your shares.” Translation: No answer... and how could Sam possibly answer: after all there is no way on earth that OpenAI could ever grow into its future obligations absent a miracle, an act of God... or uncle Sam.
A few days later, Altman delivered a far more troubling answer, and one which connected the mathematical dots for everyone, when it was reported that OpenAI was seeking a government guarante...
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