E149: OpenAI to $1.0 trillion valuation?, Fly United with Starlink?, Broker-dealers ever offer crypto?

This Week in Pre-IPO Stocks

Send us a text

00:15 - OpenAI to $1.0 trillion valuation?
17:11 - Fly United with Starlink?
26:39 - Broker-dealers ever offer crypto?
[1] OpenAI in Talks for $6.5B Funding Round at $150B Valuation
-Does OpenAI have potential to be a $1.0 trillion company? 6.7x return from here.
-OpenAI in discussions to raise $6.5B at a $150B valuation (primary round)
-Previous valuation: $86B earlier in 2024
-Seeking $5B in debt via revolving credit facility
-Key investors include Thrive Capital, Microsoft, Apple, Nvidia, and UAE-backed MGX fund
-30x revenue multiple on $5b Dec 2024 forward ARR
-Appears only 29% of revenue is B2B; $1b ARR vs $3.4b ARR total as of Q2ish 2024
[2] United Airlines to Offer Starlink Wifi
-Does the type/quality of wifi determine which airline you use?
-United focused on premium and business travelers
-Adding power outlets, back seat screens, and now Starlink WiFi
-United says Starlink is faster, more reliable, can be used over oceans, and allows travelers to use more than one device at a time
-Release in late 2025
-No cost to use Starlink Wifi
-Starlink already has deals with Hawaiian Airlines and Qatar Airlines
-Delta uses Viasat, American uses Intelsat
[3] eToro Settles with SEC, Limits Crypto Offerings in the U.S.
-If you're a broker-dealer or RIA how do you approach crypto now? Just stick with the ETFs?
-Retail brokerage company
-Agreed to $1.5M penalty with SEC over operating as an unregistered broker and clearing agency
-U.S. users can trade only Bitcoin, Bitcoin Cash, and Ether; 180-day window to sell/withdraw other tokens
-38M registered users globally, offering over 100 cryptoassets outside the U.S.
-Secondary market valuation: $7.3B (+107.7% vs Mar 2023 round)