OpenAI's Financial Performance & Investment - Initial investment of 1.4% of $4 trillion (USD) into OpenAI raised concerns given the $13 billion (USD) revenue [1] - OpenAI is projected to exit the year with $20 billion (USD) in revenue [3] - OpenAI anticipates exceeding $100 billion (USD) in revenue by 2027 or 2028 [4] - Capital expenditure (capex) is estimated at $1.4 trillion (USD), with partners bearing half, reducing OpenAI's burden to $600-700 billion (USD) [4] - OpenAI's annual capex is projected to be $100-200 billion (USD) over five years [4] Market Reaction & Context - The NASDAQ experienced a 40% increase from its April low, with AI stocks rising significantly [2] - Market interpreted Sam Altman's response regarding OpenAI's investment and revenue as a potential cause for concern [1][3] - Market sentiment shifted after clarification that OpenAI's future revenue projections justify the current investment [5]

Now, those jitters extending into the private markets, too. OpenAI CFO Sarah Frier causing some concerns when she said at a conference this week the government could quote backs stop some of the startups funding deals. Frier quickly walked it back, writing in a LinkedIn post that her word choice muddled the point, quote unquote, and that OpenAI is not seeking a government back stop.Joining us now though is Katherine Bole, Andre Horowitz, a general partner. Katherine, it's great to have you back on the show. ...

So, if you've been following the government shutdown, this weird thing is happening where the solution to funding the government might be to fund the government. So, I want to take a second and explain. There's basically a split screen right now going on in Congress.You have the bill they've already voted on 14 times, and all that does is it just continues current government funding, but then on the other hand, you have a bipartisan group of senators that's working on updating funding levels for all the dep ...

Consumer Sentiment & Economic Impact - University of Michigan consumer confidence numbers are not strong three weeks before Black Friday [1] - Low consumer sentiment is observed, but upper-middle and luxury consumer spending remains strong [2] - Government shutdown negatively impacts lower to middle-income consumers, widening the K-shaped economy [3] Retail & Inventory - Overall inventory levels appear to be in good shape, with some inventories brought in early to manage tariff impacts [5] - Managing margins against higher costs due to tariffs will be a headwind in the first half of 2026 [5] - Promotions are not significantly increasing heading into Black Friday, and Amazon Prime Day in October was solid but not exceptionally strong [6][7] Value & Off-Price Retail - Lower-income consumers are focusing on necessities and value pricing [7] - Value is constituted by brand and price, with off-price retailers, Walmart, and Costco representing value options [8] - Retail real estate landlords are seeing strength in leasing from value players [9]

Welcome back. Two fintech companies moving in opposite directions on this Friday. Mackenzie Sagalos has more on block and a firm.We talked to Max earlier this morning about GMV. >> Yeah, that was a a real bright spot for them. But a tale of two fintexs after the bell.A firm soaring, block sinking, and that disconnect was not about the consumer, but about who's proving they can scale profitably. A firm posted a blowout quarter that delivered exactly that even after losing the Walmart deal to CLA. transaction ...

Mark Mahaney, Evercore ISI, joins 'Closing Bell Overtime' to talk the earnings out of the gig economy, Big Tech investments in AI, and more. ...

Market Outlook & Economic Trends - Market reflects anticipation of a negotiated resolution to the government shutdown in the coming weeks [3] - Weak economic data suggests the Federal Reserve will likely implement a rate cut in December [3] - Cyclical sectors of the S&P 500 have experienced a significant collapse in relative price, nearing 35-year lows, indicating weakening economic conditions since the government shutdown [5] - Material stocks have plummeted since the shutdown, correlating with CPI inflation [6] - The economy is expected to slow, leading to broad easing from both monetary and fiscal authorities [9] Investment Strategy & Market Performance - Lower rates on short rates, lower bond yields, and a weaker dollar have been observed this year, alongside faster money growth [9] - High beta stocks, small-cap and micro-cap stocks, and international stocks are showing better results, reflecting policy changes [10] - Leadership is expected to emerge in high beta, small-cap, micro-cap, and international stocks [11] Economic Indicators & Concerns - ADP numbers are flat over the last 3 months [2] - Challenger layoffs have surged recently [3] - Consumer confidence is declining significantly [3]

Hey, Scott. So, yeah, hearing from a couple different folks here. Number one, I am hearing uh from a couple Republican aids that this offer now made by the Democrats that they will vote to reopen the government if Republicans provide a one-year extension of those Affordable Care Act tax credits is not going to be accepted by Republicans.I was told that this offer was actually made several weeks ago, that it was rejected by Republicans. We're also now seeing a statement come out from the White House on this. ...

Hey Morgan. Yeah, the Federal Reserve out with its twice annual financial stability report where it looks at all the risks in the financial system and uh there are some areas of concern among them asset values remaining elevated uh uh relative to historical norms. Commercial real estate values are showing signs of stabilization on the good side, but there's concern about some of these refinancings that have to happen to this commercial real estate in the coming years.Business and household debt was stable r ...

Message for current stock draft leader Bobby Fle. >> And I got a little something to say to Fle. Stay in the kitchen.>> Yes. >> All right. This stock stuff is for the big boys.So, uh, I plan on being at the top when this thing is all said and done. >> So, with us now is Bobby Fle, chef, restaurant tour, entrepreneur. Um, the big boys.I mean, you're leading. So, who's the big boy now. I mean, I don't know what's funnier, his standup or his stock picks.I mean I mean, you know, listen, um, Nvidia, I mean, come ...