Good morning from the Financial Times.
Today is Tuesday, June 9th, and this is your FT News Briefing.
OpenAI is officially going public, and U.S. investors are getting the rate increase heebie-jeebies.
Plus, the White House is trying to figure out how to handle Israel's recent strikes on Lebanon.
I'm Marc Filippino, and here's the news you need to start your day.
OpenAI confidentially filed for an initial public offering yesterday.
The ChatGPT maker will likely be valued at more than a trillion dollars.
This comes just a week after OpenAI's rival Anthropic filed its own IPO paperwork
and just days before SpaceX, Elon Musk's company, is set to go public.
But OpenAI's IPO might not come so quickly.
The company said in a statement that it hadn't decided on timing yet and that it, quote,
may be a while because there are things we want to do that are likely easier as a private company.
OpenAI's potential listing will test the appetite
that investors have for a company with unprecedented revenue growth but also huge losses.
Okay, we're going to zoom out and talk about the U.S. equities market as a whole now.
Wall Street had a slight change of heart yesterday.
U.S. equities rebounded a bit after a rough day on Friday for AI-related stocks.
The tech-heavy Nasdaq rose nearly 1% on Monday after it fell more than 4% on Friday.
And all this volatility is happening during an important week for the market, like I just mentioned.
OpenAI filed IPO paperwork,