Markets Shaken, AI Valuations Soar, Oil Slumps: What You Missed in Business This Weekend
In a massive secondary sale, OpenAI may offload about $6 billion of stock to SoftBank and Thrive Capital, valuing the company at about $500 billion, with roughly 700 million weekly ChatGPT users and a $12 billion revenue run-rate in the first seven months of 2025. Oil prices slid as Brent crude traded around mid-$65 per barrel and WTI around $62.8, after trading above $80 earlier, with Goldman Sachs warning of a potential deep bear market if peace talks progress. The Magnificent 7 techs grew earnings per share by 26% year over year in Q2, helping Nasdaq futures hover near all-time
