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Fintech

OpenAI's $7B tender cleared at $852B

OpenAI completed a roughly $7 billion employee tender on Monday at $852 billion, unchanged from its last primary round, and funded the purchase itself rather than bringing in outside investors. The OCC denied bunq a national bank charter in the same week that Erebor moved toward a raise at roughly $8 billion. And Sacra estimates Notion has grown 82% since the tender that set its current mark.

Paul Smalera

Artificial Intelligence

August 11, 2026

Paul Smalera

Artificial Intelligence

August 11, 2026

OpenAI's at $852B. Employees still won't sell.

Paul Smalera

Stripe's ~$10B move on OpenRouter

Paul Smalera

DeepSeek's $52B valuation, found in a filing

Paul Smalera

Kalshi priced compute. OpenAI’s exposure may be different.

Paul Smalera

Ramp $40B. Hyperscalers' $49B tell.

Paul Smalera

When ”markets” and gambling mean the same thing

Paul Smalera

The private market access trade is getting its first real stress test

Paul Smalera

Anthropic's $380B valuation has a new problem

Paul Smalera

Block just cut half its workforce. Wall Street loved it.

Paul Smalera

The $100 billion market nobody can measure

Paul Smalera

Wall Street just bought the private markets. Here's what that means for you.

Paul Smalera

Friday the 13th came for the IPO market

Paul Smalera

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