OpenAI CEO Sam Altman confirmed the company exceeds $13 billion in annual revenue but faced skepticism about its ability to fund significant spending commitments. He dismissed rumors of an imminent IPO, stating there's no set date but acknowledges it will happen eventually.

Tiger Global and Microsoft are selling their entire stakes in PhonePe, an Indian payments startup backed by Walmart, as part of its IPO. The company aims for a market cap of around $15 billion and is looking to raise up to $1.5 billion from the share sale. PhonePe leads India's digital payments market, surpassing competitors like Google Pay.

OpenAI has transitioned its for-profit subsidiary into a public-benefit corporation, allowing Microsoft to acquire a 27% stake and pushing its valuation above $4 trillion. This change aims to facilitate fundraising and talent acquisition while addressing concerns over OpenAI's commitment to its nonprofit mission amid ongoing litigation.