Latest news with #DanPrimack
Axios
4 days ago
- Business
- Axios
What the OpenAI valuation means for stock investors
OpenAI is in early talks to sell employee shares at a $500 billion valuation, Axios' Dan Primack reports. Why it matters: Amid calls of a market bubble, the lofty valuation provides justification for sky-high AI stock prices. Driving the news: OpenAI is weighing a secondary stock sale, Primack says, as first reported by Bloomberg. The deal would increase its valuation by nearly two-thirds. The tech company's previous valuation was $300 billion. What they're saying: "This is an AI Revolution, and OpenAI is the golden child," Wedbush Securities analyst Dan Ives tells Axios. The valuation for OpenAI could "hit a trillion," according to a note from Ben Emons, chief investment officer and founder at FedWatch Advisors. That could drive growth in sectors like semiconductors and chips. Zoom out: The OpenAI valuation mirrors companies with exposure to AI driving the market. Fewer stocks are trading above their 200-day moving averages, and the number of stocks climbing versus declining is decreasing, Emons notes. That means a smaller number of stocks that are already expensive are driving the broader market, which leads to concentration concerns. However, if valuations are justified by earnings growth, then investors are right to be getting in, regardless of the elevated prices. Zoom in: Emons highlights more baskets of stocks with AI exposure are outperforming the Magnificent 7. That could indicate investor appetite for lesser-known AI plays like S.K. Hynix (up 50% this year) or Vertiv (up 17% this year), as the Magnificent 7 stocks become more expensive and aren't performing as well on a year-to-date return basis. As Axios Markets has reported, the AI supercycle ETF is up 23% year-to-date, versus the Magnificent 7 gaining 6.2% in the same timeframe. Yes, but: The OpenAI valuation could justify the prices of Magnificent 7 stocks with heavy AI exposure. Be smart: Tech stocks are historically overvalued at the beginning of a technological supercycle. If you worried about valuations, you would have missed every tech rally in history, according to Ives. The intrigue: OpenAI's employee stock sale also points to the increasingly delayed IPO process for startups. Employees used to stick around for a firm to go public. But that's taking longer and longer, and companies like OpenAI are finding new ways to reward employees in the interim.
CNBC
6 days ago
- Business
- CNBC
AI strategy, identity has driven M&A action, says Axios' Dan Primack
CNBC's "The Exchange" team discusses what is driving the action in mergers and acquisitions as well as what deals may be next with Dan Primack, business editor at Axios.
Axios
22-07-2025
- Business
- Axios
Jim VandeHei: Rise of Super Journalists
We write and talk a lot about the rise of AI superintelligence machines that'll be much smarter than humans — and the technology's impact on society and traditional journalism. In this column, we'll delve into the rise of what we call Super Journalists — reporters with sourcing, expertise, nuance and connections no machine can possibly match. Why it matters: We believe Super Journalists will dominate media in the AI era. These are journalists with true domain expertise, top-notch sourcing and historical depth to tell people things they don't know. They're not your average journalist doing a dutiful job chronicling unfolding events. Those, we believe, will be displaced by an AI agent summarizing things to match — with precision — the tastes of each individual user. No, these are the journalists with deep passion for a topic — be it politics, AI or a specific city — and deep sourcing, knowledge and credibility. They establish an authentic human connection, based on trust built over years. The big picture: This is great for you, the news consumer. In the future, we envision a world where discerning readers, viewers and listeners get the best of both worlds: higher quality human expertise on their favorite topics and quicker, better summaries of daily news or happenings via AI. We built Axios years ago for this very moment. We have a smaller newsroom than some older competitors. But we have true subject matter experts — including Sara Fischer on media, Dan Primack on deals, Ina Fried on tech, Hans Nichols on Congress, Neil Irwin and Courtenay Brown on economics and the Fed, Marc Caputo on the White House, Alex Thompson on national politics, Barak Ravid on the Middle East, Eleanor Hawkins on communications strategy, Joann Muller on transportation, and so many more. We're doing the same in Axios Local cities — now 34 and counting — where we hire the most wired reporters in a city to cover that city for a core local audience of smart professionals. We're not alone: Substack just raised $100 million to entice experts to go solo on its platform. New media companies, notably Puck, have adopted a similar Super Journalist ethos. AI will change journalism dramatically. We're updating the Axios Manifesto to make it clear we'll use AI as a tool for research, data collection and analysis, and compilation of data like concerts or events in cities — not to write stories. We'll soon start sharing some of the best use cases we've found. We believe AI will enable us to expand Axios Local to many more cities, much faster (more on this soon). But it won't replace Super Journalists. In fact, the spread of AI will make their work even more vital and valuable. Here's how we think about it: AI will help facilitate getting more high quality human-generated content to more humans. The distinctiveness of true Super Journalists' work will stand out amid the sameness of commodity news spit out by AI machines. We're betting you'll yearn for and reward: Authentic scoops by people you trust. Authentic context to see and think about topics in a more sophisticated way. Authentic nuance that flows not from the literal words and actions of people — but from their facial expressions, body language and true intent. The bottom line: Super Journalists + superintelligence = information nirvana if Axios can nail the mix and win your trust.
CNBC
10-06-2025
- Business
- CNBC
Markets want and are ready for new stock issues, says Axios' Dan Primack
Dan Primack, Axios business editor, joins 'Power Lunch' to discuss the recent spate of IPOs and what to expect from companies nearing the public markets.
Yahoo
27-05-2025
- Business
- Yahoo
Dissecting Trump's US Steel–Nippon partnership announcement
US Steel (X) stock is in focus amid renewed optimism that the American steelmaker will be acquired by Japan's Nippon Steel (NPSCY, 5401.T) after comments from President Trump. Axios business editor Dan Primack joins Market Domination with Josh Lipton and Barron's associate editor Al Root to take a closer look at the steel deal. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
