Having trained a chatbot to do the work of junior bankers, could OpenAI, with some help and deep pockets, potentially start its own investment bank?
Just how far could OpenAI take its investment banking push? The question is starting to be kicked around in some of Australia’s top boardrooms, who are trying to peer decades into the future. Bethany Rae
A few weeks ago, amid the blizzard of news about deals in the artificial intelligence sector, Bloomberg revealed the existence of a unique initiative underway inside OpenAI.
Code-named Mercury, the secretive project involved the hiring of about 100 former investment bankers from JPMorgan, Goldman Sachs and Morgan Stanley.
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Original URL: https://www.afr.com/technology/ai-investment-bankers-show-the-threat-to-your-business-model-20251030-p5n6o4
