|
|
|
May 05, 2026
|
|
|
|
|
Supported by
|
|
|
|
|
|
|
Happy Tuesday! OpenAI President Greg Brockman says his stake in the firm is worth nearly $30 billion. The Trump administration is weighing new review processes for AI models. Palantir’s revenue jumps 85% on demand from U.S. companies and government agencies. By the way, from now on you can access our reporting via our new text-to-audio feature, making it easy to stay informed while working or multitasking. Available on desktop and mobile web.
|
|
|
|
OpenAI President Greg Brockman said his stake in the startup he cofounded is worth close to $30 billion. His comment came in response to questioning from a lawyer for Elon Musk as Brockman began his testimony in the trial over Musk’s lawsuit alleging breach of charitable trust at OpenAI. The lawyer, Steven Molo, asked Brockman to confirm that he hadn’t put any of his own money into OpenAI in its early days, a point Brockman acknowledged. Molo then asked if Brockman’s current stake in OpenAI is worth more than $20 billion, and may be closer to $30 billion. Brockman said he thought that was correct. OpenAI in March said it had secured committments totaling $122 billion in its latest funding round, which valued the company at $852 billion including the new money.
|
|
|
|
The White House is rethinking its approach to AI oversight as models grow more powerful, according to the New York Times, which reported on Monday that the administration is weighing new review processes, including an executive order that would bring together industry executives and government officials to discuss potential guardrails on the technology. A White House official told The Information that any policy announcement will come directly from President Donald Trump and that any discussion about potential executive orders is “speculation,” echoing a statement provided to the New York Times.
Until now, the Trump administration has taken a hands-off stance toward AI, rolling back Biden-era safety policies and advanced chip export restrictions. But Anthropic’s April announcement of its new model Mythos, which the company claimed could not be released to the public due to security risks, spurred the White House to shift its policies, according to the New York Times. Anthropic has been engaged in a legal battle since March with the Pentagon, which has sought to restrict the government’s usage of its AI models, even as the Trump administration explores potential access to the technology.
|
|
|
|
Palantir reported revenue grew 85% to more than $1.6 billion in its March quarter—a 15% uptick from last quarter—and raised its full-year projection to 71% growth, from the 60% it issued a few months ago. Palantir is continuing to benefit as more U.S.-based companies and U.S. government agencies look to better organize their data for analytics and AI projects. Revenue from U.S. commercial customers grew 133% to $595 million compared to last year, while revenue from U.S. government agencies increased 84% to $687 million compared to last year. Together, these segments grew 104% in the quarter compared to last year, up from 93% last quarter. On the earnings call, Palantir CEO Alex Karp repeatedly derided the prevalence of “AI slop,” an apparent reference to AI that isn’t consistently accurate and has minimal
value to customers. He appeared to take a swipe at OpenAI’s new joint venture with 19 private equity firms and consultancies, known as The Deployment Company, asserting that its focus is very similar to that of Palantir. Palantir shares were flat in after-hours trading. The company’s stock has dropped 18% since the start of the year, amid a broader selloff of enterprise software stocks. But Palantir CTO Shyam Sankar argued that AI is a “massive tailwind” for Palantir because the company has always positioned itself as an alternative to traditional business software providers, he said, without naming them.
|
|
|
|
OpenAI has raised $4 billion from 19 private equity firms and consultancies including TPG, Brookfield Asset Management, Bain Capital and Advent for a new company that will employ specialized tech consultants to help the PE firms’ portfolio companies integrate AI, according to a person with direct knowledge of the discussions. The new company, called The Deployment Company, will use the new money to hire hundreds of these consultants, sometimes called forward-deployed engineers, and is looking to buy small consultancies to increase its staff. OpenAI is investing $500 million in its stock, based on its most recent valuation of $730 billion, for acquisitions and could add $150 million additionally for employee stock comp, according to the person. OpenAI and its partners have valued the new company at $10 billion, before the investment. The plans are part of a broader push by AI companies to increase spending from corporations on AI. Anthropic on Monday announced it had set up its own joint venture, first reported by The Information, with PE firms including Blackstone, Heller & Friedman and Goldman Sachs. Bloomberg first reported on the new OpenAI venture’s valuation.
|
|
|
|
ServiceNow executives on Monday said they expect the company’s subscription revenue will rise to a range between $30 billion and $32 billion by 2030, or about double the roughly $15.7 billion in subscription revenue the software company has projected for this fiscal year. Demand for its new AI products would drive that growth. The enterprise software firm projected the market for AI ‘governance’ platforms that organize, monitor, and manage AI agents for other companies will reach $600 billion by 2028. The projection assumes that ServiceNow will succeed in its strategy of selling software for managing AI agents in addition to its current role of primarily helping companies track and manage IT issues, which it estimates to represent a smaller, $39 billion market. ServiceNow is one of many software firms pitching themselves as AI management dashboards. “ServiceNow is not a traditional SaaS company. We’re the orchestration layer AI agents run on, not the software they replace,” said CFO Gina Mastantuono as part of her pitch to investors during the company’s financial analyst day in Las Vegas. Another reason for its 2030 sales guidance: ServiceNow also said its new pricing tiers announced in early April will raise spending from customers by 20% to 30% on average, adding to its revenues as soon as this year. ServiceNow stock has fallen 40% so far this year as investors have fretted that AI tools from startups such as Anthropic and OpenAI will reduce demand for traditional software. Shares rose 1% in after hours trading Monday.
|
|
|
|
| |
