OpenAI investors question its valuation

This episode of the FT News Briefing covers three major global developments. First, OpenAI's strategic pivot toward enterprise AI tools is raising concerns among investors, despite the company's $850 billion valuation. While OpenAI aims to capitalize on the growing business AI market—especially in response to rival Anthropic's success—some investors fear the shift could weaken its consumer dominance and expose it to competition from Google. The company's upcoming IPO could have a major ripple effect across the AI industry, potentially setting a benchmark for other high-profile tech listings like Anthropic and SpaceX. Second, the fragile U.S.-Iran ceasefire has collapsed after Israel launched a devastating airstrike on Lebanon, killing over 350 people and destroying residential areas. The attack, which targeted Hezbollah sites, was seen by many in Lebanon as a message that the truce does not extend to them, deepening regional tensions. This has complicated ongoing diplomacy between Washington and Tehran, with Hezbollah's role in Lebanon remaining a key obstacle. Finally, Goldman Sachs reported record equities trading profits but a sharp decline in fixed income revenues, dragging down its share price despite overall strong performance. The episode ends with a plug for SIBO, a global exchange offering options trading and market data solutions.