Conversation

NASDAQ dropped 1.90% today because OpenAI’s CFO said the magic phrase that makes markets soil themselves: “a government backstop”.

That was enough for traders to assume OpenAI was already knocking on the government’s door like a neighbour asking to borrow sugar at 2AM.

Altman denied it. Friar walked it back. David Sacks swatted it down. Didn’t matter. Once investors decide an AI bubble is inflating, they treat every stray quote like it’s the final chapter of the Book of Revelations.

OpenAI is private, so nobody knows whether they’re thriving or duct-taping GPUs together in a bunker. The only visible truth is that even suggesting government involvement detonates public confidence. And yes, the optics look like a distress flare even if the intent was “long-term financing strategy” rather than “please save us”.

If this ever did blow up, Microsoft would take the first punch. Retail investors would get the meme version. But Big Tech won’t collapse because one lab fumbled its messaging. This whole reaction was vibes, not data.

Then again, hype cycles feed on vibes. And OpenAI just handed the market a buffet.

https://finance.yahoo.com/news/openai-ceo-altman-denies-company-is-looking-into-government-bailout-202255408.html