#OpenAI

Intuit has partnered with OpenAI in a multi-year deal exceeding $100 million to integrate OpenAI’s LLMs into its financial products like TurboTax and QuickBooks. This integration, powered by Intuit’s AI system GenOS, aims to enhance user experience with personalized insights and automated tasks. Users will be able to securely link their accounts to ChatGPT for tax and financial actions, like receiving refund estimations. This deal validates OpenAI’s valuation and signifies the growing importance of AI in the finance sector. Intuit emphasizes data security within its ecosystem.

Google has launched Gemini 3, its latest AI model, intensifying competition with OpenAI’s ChatGPT. Gemini 3 aims to provide more nuanced and efficient responses with less user input, integrating across Google’s services like the Gemini app and AI-powered search. It’s designed to be more intuitive and understand complex contexts. Google reports strong user engagement across its AI platforms, while also introducing “Google Antigravity” for developers and generative interfaces for users. Gemini 3 will cater to various business needs, and is driving substantial capital investments in AI infrastructure among tech giants.

Intuit has partnered with OpenAI in a multi-year deal exceeding $100 million to integrate AI into its financial products like TurboTax and QuickBooks. The goal is to enhance user experience with personalized AI agents powered by OpenAI’s LLMs within Intuit’s GenOS. Users can securely connect their accounts to ChatGPT for tax-related and financial actions. Intuit emphasizes data privacy, keeping user information encrypted. This move aims to improve product development, marketing, and financial literacy, solidifying Intuit’s position in the AI-powered financial solutions market.

Oracle’s stock initially surged on bullish AI prospects and its OpenAI partnership, but has since relinquished significant gains. Investor sentiment is cooling due to concerns about the capital intensity of AI buildout, Oracle’s cash flow, and OpenAI’s commitment sustainability. Oracle is reportedly considering a large debt raise to fund its AI infrastructure expansion. Analysts highlight Oracle’s reliance on OpenAI and lower GPU rental margins compared to its core business. Upcoming earnings will be crucial for assessing Oracle’s AI strategy progress and financial health.

SoftBank divested its Nvidia stake for $5.83 billion to reallocate capital to OpenAI, signaling a firm belief in generative AI’s potential. Despite market discussions on AI valuations and concerns raised by figures like Michael Burry, SoftBank’s decision reflects a strategic prioritization of investment, aiming to capitalize on perceived greater opportunities within OpenAI. This move underscores SoftBank’s conviction that OpenAI is poised for significant growth across various sectors, making the increased investment a strategic imperative.

AMD projects 35% annual revenue growth over the next 3-5 years, driven by an 80% annual expansion in its AI data center business, potentially reaching tens of billions in sales by 2027. The company aims for a double-digit share in the data center AI chip market, challenging Nvidia’s dominance. AMD is partnering with OpenAI to supply Instinct AI chips. The total addressable market for AI data centers is estimated to reach $1 trillion by 2030. Despite the AI focus, AMD’s legacy businesses are also experiencing growth.

SoftBank Group divested its entire $5.83 billion stake in Nvidia, selling 32.1 million shares in October. This move aims to bolster SoftBank’s AI investments, including its significant backing of OpenAI. While Nvidia shares saw a slight dip, analysts suggest the sale is driven by SoftBank’s need to rebalance its portfolio and fund ventures like the $500 billion Stargate AI data center project. SoftBank’s Vision Fund reported a $19 billion gain, contributing to doubled profits in the fiscal second quarter, reflecting its aggressive expansion in the AI sector.

SoftBank Group reported a significant $19 billion gain on its Vision Fund for Q2, exceeding expectations and driven by strategic investments. Profit reached 2.502 trillion yen, surpassing last year’s 1.18 trillion yen. Despite market anxieties, SoftBank is doubling down on AI, including a reported $30 billion investment in OpenAI, and remains committed to Artificial Super Intelligence (ASI), though facing potential regulatory and ethical concerns. The company’s stock, while volatile, is up over 140% YTD, reflecting confidence in its tech investment arm.

OpenAI CFO Sarah Friar clarified that the company is not seeking a government “backstop” for its infrastructure plans, despite earlier suggestions. Instead, she emphasized a collaborative approach between the private sector and government to build U.S. technological capacity. This comes as OpenAI undertakes $1.4 trillion in infrastructure agreements to meet AI demand. Friar projects $13B+ revenue this year, but spending commitments have raised concerns about financial sustainability, which CEO Sam Altman dismissed. Friar highlighted ongoing collaboration with the U.S. government, underscoring AI’s role as a national strategic asset.

OpenAI projects over $20 billion in annualized revenue this year, aiming for hundreds of billions by 2030. CEO Sam Altman emphasizes massive infrastructure expansion to meet AI model demand, with reported deals exceeding $1.4 trillion. CFO Sarah Friar’s suggestion of a potential federal “backstop” for semiconductor investments sparked controversy and was later clarified, with OpenAI asserting they do not seek government guarantees for data centers, relying instead on private sector investment. Analysts highlight the risks and competition in OpenAI’s aggressive expansion strategy.