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Luke Kawa

OpenAI boosted its revenue and cash burn forecasts, The Information reports

According to a new report from The Information, OpenAI is boosting both how much cash is expected to come through the door and how much it will be sending out of it.

The ChatGPT maker increased its revenue projection for the next five years by 27% while also forecasting $112 billion in additional cash burn (or more than twice as much as previously expected), per the report. New revenue streams like advertisements are likely contributing to this improved top-line outlook.

More cash outflows, of course, necessitate that the firm be given more money to spend. OpenAI is in the midst of nailing down a $100 billion funding round in which Nvidia, Amazon, and SoftBank are expected to be major contributors. It’s expected to be valued at $730 billion, per various media reports, as ChatGPT remains the most heavily used chatbot.

CNBC, citing sources, also reports that “OpenAI is telling investors that it’s now targeting roughly $600 billion in total compute spend by 2030, months after CEO Sam Altman touted $1.4 trillion in infrastructure commitments.”

However, it’s unclear whether this represents scaled-down ambitions or more of a timing mismatch, as Altman tweeted in November, “We are looking at commitments of about $1.4 trillion over the next 8 years.”

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Luke Kawa
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J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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markets
Paige Oamek

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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