Acquisition
OpenAI has secured deals to purchase 40% of the global raw undiced DRAM wafer output until 2029, indicating a strategic supply-chain move. Additionally, OpenAI, along with Anthropic, Stripe, and Bill Gates, is investing $500 million into a new organization called Intercept, aimed at preventing the common cold and flu and eventually eliminating all respiratory viruses.
OpenAI took a stake in Thrive Holdings late last year and is providing researchers, as well as product and engineering talent, for the initiative. Boris Power, OpenAI’s head of applied research, holds a joint role at Thrive Holdings. Employees from Thrive and OpenAI co-built a tax-return processing agent using OpenAI’s coding agent Codex, which is now used by Current, a portfolio company that has acquired 48 accounting firms. OpenAI has been expanding its enterprise push through similar deployment-focused vehicles and announced a partnership with Accenture to roll out ChatGPT Enterprise to tens of thousands of the consulting firm’s professionals.
The OpenAI Deployment Company, majority-owned by OpenAI, has agreed to acquire Northslope, an applied AI firm. This marks the second acquisition by the Deployment Company, following the acquisition of AI deployment firm Tomoro. The acquisition aims to expand the Deployment Company's team to hundreds of 'forward deployed engineers' who assist customers in integrating AI systems into their operations. The terms of the deal were not disclosed, and it is subject to customary regulatory approvals.
OpenAI is indirectly held by Eightco Holdings through a $90 million investment in special purpose vehicles, representing approximately 23% of Eightco's treasury assets. OpenAI has submitted a confidential S-1, indicating plans for an initial public offering (IPO). Additionally, OpenAI's upcoming release of GPT-5.6 and its acquisition of Northslope are highlighted as significant developments.
IPO
OpenAI and Anthropic are featured in new pre-IPO contracts for difference (CFD) products launched by STARTRADER. These products, OPENAIUSD and ANTHUSD, offer traders early exposure to these companies ahead of their anticipated public listings. The CFDs provide 5x leverage and round-the-clock trading access, reflecting growing investor interest in AI-sector listings.
The government of British Columbia has retained Stranch, Jennings & Garvey to explore legal action against OpenAI. This move is in response to OpenAI's alleged failure to notify law enforcement about flagged threats made on its ChatGPT platform, which were linked to a mass shooting at Tumbler Ridge Secondary School. The article highlights the potential legal implications for OpenAI and mentions its rumored $1 trillion IPO valuation, emphasizing the need for moral accountability in tech-sector financing.
Financials
OpenAI generated $13.07 billion in revenue in 2025, up from $3.7 billion the previous year, but incurred a $20.92 billion operating loss due to $34 billion in total costs, including $19.18 billion in R&D. The company faces a delay in its IPO, with a 59% probability of announcement by March 2027. OpenAI's net loss of $38.53 billion includes a $41.5 billion charge from its conversion to a for-profit structure. A coalition of 42 state attorneys general has subpoenaed OpenAI for records on various operational aspects. Competitor Anthropic raised $65 billion at a $965 billion valuation, surpassing OpenAI's last private valuation by $113 billion.
Legal issues
Anthropic's Mythos AI model, which excels at identifying software vulnerabilities, was restricted by the Trump administration due to its potential misuse. Initially released to 200 partner organizations, access was shut off in mid-June but later restored for a select group of approved organizations. Mythos Preview found over 10,000 serious vulnerabilities, including a 27-year-old flaw in OpenBSD. The company launched Project Glasswing to use Mythos for defensive purposes, involving major tech companies like Amazon, Apple, and Google. Despite its potential, Anthropic does not plan to make Mythos generally available due to security concerns.
Anthropic has resolved safety concerns with the US government, leading to the removal of foreign access restrictions on its Fable 5 and Mythos 5 AI models. The company agreed to collaborate on protocols and standards for potentially dangerous models.
A legal battle between Elon Musk and Sam Altman involving OpenAI has been sent to mediation by US District Judge Yvonne Gonzalez Rogers. The judge appointed R. David Proctor, a retired federal judge, to mediate the dispute. This follows a jury's rejection of Musk's claims that OpenAI's restructuring from a charitable research organization to a for-profit entity betrayed its founding principles. Antitrust claims by Musk and harassment counterclaims by Altman are still pending.
OpenAI is facing a lawsuit from Apple, accusing the company of stealing trade secrets. The allegations include OpenAI's Chief Hardware Officer, Tang Tan, emailing himself information about Apple's suppliers and asking Apple employees to bring parts when interviewing at OpenAI. Additionally, OpenAI technical staff member Chang Liu is accused of downloading confidential files from Apple's network and coaching an Apple team member on how to copy these files. OpenAI has denied any interest in other companies' trade secrets.
OpenAI is developing a new smart speaker in partnership with Jony Ive, aiming to differentiate it with a 'personality' and mechanical elements that create a sense of being alive. The speaker will utilize ChatGPT's new voice mode to mimic human behavior. OpenAI has invested $6.5 billion into this project. Apple has sued OpenAI over alleged stolen trade secrets related to this development.
Product
OpenAI has received approval from the Trump administration for a broad launch of its advanced GPT-5.6 model. The flagship model Sol, along with lower tiers Terra and Luna, will be publicly available starting Thursday. This decision follows additional testing and meetings between OpenAI and government officials. The staggered release was initially pushed by the administration, limiting access to government-approved entities. OpenAI had expressed that this was not their preferred method of release.
OpenAI is introducing new voice models, GPT-Live-1 and GPT-Live-1 mini, for ChatGPT to enhance natural conversation capabilities. These models allow users to interrupt and pause without being cut off and can handle simultaneous listening and speaking, aiding language translation. OpenAI aims to make voice the primary interface for AI interactions. The company has reduced inference costs, enabling the rollout of these voice features to free users. Audio data is stored for 30 days for context, but users can manage their data preferences.
OpenAI is discontinuing its ChatGPT Atlas browser, which faced challenges due to security concerns and competition from Google Chrome, which adopted similar features. The browser's journey lasted less than a year.
Valuation
OpenAI has secured a $520 million credit line from Bank of America, adding to its existing undrawn facility, which now totals over $5 billion. This decision by Bank of America comes as OpenAI prepares for an initial public offering (IPO). OpenAI has also raised capital at a valuation of $852 billion this year. The company has submitted a confidential regulatory filing for a potential IPO and is considering going public next year, following its rival Anthropic PBC.
Staff
OpenAI is undergoing significant leadership changes. Johannes Heidecke, the head of safety systems, is leaving the company, and Saachi Jain will serve as interim head of safety systems. Mia Glaese will take on a larger role as VP of research and safety. Greg Brockman, OpenAI's President and Co-Founder, will lead the ChatGPT product business following Fidji Simo's departure due to a medical condition. Additionally, OpenAI is facing a lawsuit from Apple, accusing it of stealing trade secrets.
Competitors
Microsoft is positioning itself as a more comprehensive and cost-effective AI platform compared to Anthropic and OpenAI. Microsoft executives have criticized Anthropic's AI products for being slower, less accurate, and lacking security integrations. Additionally, Microsoft has replaced advanced AI models from OpenAI and Anthropic with its own cheaper alternatives in some products.