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> 3. It occurred during market hours and blindsided their investors and partners. (Possibly dumb) question: OpenAI isn't publicly traded right? Do market hours
by ants_everywhere 3y ago
> 3. It occurred during market hours and blindsided their investors and partners.
(Possibly dumb) question: OpenAI isn't publicly traded right? Do market hours really matter for this sort of thing for private companies?
- mkl 3y agoMicrosoft is publicly traded, and owns 49% of the for-profit OpenAI Global (the company that makes money with ChatGPT etc.).
- deleted 3y ago[deleted]
- Hamcha 3y agoIt probably scared the downstream, see Microsoft pushing out a press release as soon as possible since they have been investing tons of money and PR into their OpenAPI partnership and needed to calm their investors and partners.
- arbitrage 3y agoGood point, and the answer to that is possibly not. But, considering that it isn't ideal to publicize this sort of thing during market hours anyway, regardless of your public/private status, my takeaway is that OpenAI felt that they had to get in front of this news at all costs. I find that very interesting, and I wonder what the competing narrative would have been had they not done that.
- nativeit 3y agoMicrosoft stock dropped 1% in 30-minutes. Relatively speaking, that’s a precipitous drop.