OpenAI Takes a $150B Haircut
Shownotes
OpenAI neared a $30B bridge round at a $1.25T valuation, down from the $1.4T it pitched, ahead of an IPO. Treasury proposed curbs on US tech investment in China, banks blocked rogue AI agents, and OpenAI launched its Decisions API.
- Sources: OpenAI nears an up to $30B round led by investors from the UAE and Coatue at a $1.25T pre-money valuation, as an “opportunistic” bridge ahead of an IPO (CNBC)
- The US Treasury proposes a rule to crack down on US high-tech investments in areas like AI and supercomputing in China, Russia, and other “countries of concern” (AP)
- DeepSeek and MiniMax have won approval to deploy their models overseas, as Beijing says much of Chinese AI will remain free for export despite its draft export-control proposal (Bloomberg)
- OpenAI makes Decisions API, its Jev competitor, generally available with new voice and visual modalities, at $0.10/1M input tokens and no output-token charges (TechCrunch)
- Sources: US banks are restricting third-party AI agents from accessing customer accounts, after some agents appeared to act independently of users’ instructions (Axios)
- Sources: Major US banks, Morgan Stanley among them, have been blocking third-party AI agents from operating inside customer accounts and making transactions, as Jamie Dimon and Schwab’s Richard Wurster say outside agents aren’t getting in (Reuters)
Longreads
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