NVIDIA Corporation

Advanced Micro Devices, Inc.

Salesforce, Inc.

AI development company Cohere makes headlines far less frequently than its larger peers. According to its <a href="https://fortune.com/2025/09/09/cohere-looks-to-shed-its-underdog-status-with-a-star-ai-hire-new-cfo-and-7-billion-valuation-chasing-roi-over-agi/">cofounder Nick Frosst</a>, that is deliberate: the company does not seek the attention of the general public and focuses instead on “quiet” sales in the corporate segment. However, at the end of October the company <a href="https://www.bloomberg.com/news/articles/2025-10-21/openai-rival-cohere-looking-to-ipo-soon-ceo-gomez-says">announced</a>&nbsp;that it was preparing for an IPO. For investors, that is a reason to take a closer look.

Not for 'all of humanity': Startup Cohere focuses on AI for businesses

Floating OpenAI stock on an exchange is "not on the agenda" in the near term, the company's CFO Sarah Fryer <a href="https://www.wsj.com/tech/ai/openai-isnt-yet-working-toward-an-ipo-cfo-says-58037472?mod=hp_lead_pos5">said</a> at the WSJ Tech Live conference. She said the ChatGPT developer's transition to a new corporate structure doesn't mean an IPO is imminent - the company is now more focused on growth and research rather than profitability.

'Not on the agenda': OpenAI says it is not yet preparing for an IPO

Palantir Technologies Inc.

Starbucks Corporation

OpenAI signed a $38 billion contract with Amazon Web Services, diversifying its infrastructure and reducing its dependence on Microsoft. Saudi Aramco showed a 0.9% increase in profit to $28 bln thanks to an increase in oil production. These and other topics - in our review of key events for the morning of November 4.

Highlights for the morning: Aramco's profit growth, Starbucks' change of plan in China, OpenAI contract

Microsoft Corporation

So, it's happened. After a year of discussions, negotiations and even <a href="https://oninvest.com/article/cukerberg-protiv-al-tmana-kak-delo-openai-raskololo-kremnievuu-dolinu">lawsuits</a>, the leading artificial intelligence developer OpenAI has finally restructured and turned into a commercial company. This will allow its CEO Sam Altman to attract new investments and even go public. It may become the <a href="https://www.reuters.com/business/openai-lays-groundwork-juggernaut-ipo-up-1-trillion-valuation-2025-10-29/">largest</a> IPO in modern history.

"Just a normal company" at $1 trillion: How OpenAI is making its way to the stock exchange

Apple Inc.

Meta Platforms, Inc.

Alphabet Inc.

Nvidia temporarily surpassed its $5 trillion capitalization for the first time in history and announced partnerships with Uber, Nokia and the U.S. government. Apple's market value rose above the $4 trillion mark for the first time, while Amazon announced it was laying off 14,000 employees and realigning its business around artificial intelligence. Donald Trump and Xi Jingping agreed to a one-year truce in the trade war. About the main events from October 27 to 31 - in our review.

Highlights of the week: Big Tech reporting, US and China agree on a deal, OpenAI thinking about an IPO

Microsoft recorded a $4.1 billion <a href="https://www.microsoft.com/en-us/Investor/earnings/FY-2026-Q1/press-release-webcast">loss write-down</a> in the third quarter related to its investment in OpenAI. This amount was up 490% year-on-year. Bernstein analyst Firoz Valligi estimates that this means that OpenAI's net loss for the quarter could have exceeded $12 billion, as Microsoft's stake in OpenAI was 32.5%, The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-10-31-2025/card/openai-made-a-12-billion-loss-last-quarter-microsoft-results-indicate-e71BLjJA0e2XBthQZA5X?mod=lctimeline_finance">reported</a>.

Record loss: OpenAI could lose more than $12 billion in third quarter - WSJ

China and the U.S. have agreed on a trade deal that includes a reduction in some duties. Alphabet reported record revenue of $102.4 billion and Google Cloud division grew 34%, becoming the main beneficiary of the AI boom. The IPO of ChatGPT chatbot developer OpenAI could take place in 2026 and bring its valuation to $1 trillion. These and other topics are covered in our review of key events for the morning of October 30.

Highlights for the morning: Alphabet and Microsoft records, US-China deal, OpenAI IPO

The completion of OpenAI's restructuring allows the ChatGPT developer to pursue an IPO that could take place as early as 2027, sources <a href="https://www.wsj.com/tech/ai/openais-promise-to-stay-in-california-helped-clear-the-path-for-its-ipo-3af1c31c?mod=hp_lead_pos2">told</a> The Wall Street Journal. Negotiations are still preliminary, they said, and OpenAI could float shares later in 2027 or not at all.

OpenAI could have one of the largest IPOs in history in 2027 - WSJ

Microsoft has signed a new partnership agreement with OpenAI, of which it was an early shareholder, the ChatGPT developer <a href="https://openai.com/index/next-chapter-of-microsoft-openai-partnership/">said</a>. The deal "removes uncertainty for investors in both companies and opens the way for the ChatGPT developer to restructure into a commercial business," Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-10-28/microsoft-to-get-27-of-openai-access-to-ai-models-until-2032">writes</a>.

Microsoft's capitalization soared above $4 trillion on news of the OpenAI deal

PayPal Holdings, Inc.

The company will be OpenAI's first e-commerce partner

PayPal is integrating its payment system into ChatGPT. Shares soared 15%

Tesla, Inc.

Keurig Dr Pepper Inc.

Daily review and forecast of events on the U.S. stock market from Mikhail Denislamov, Deputy Director of Freedom Capital Markets Research.

Morning in New York: investors are driven by optimism

OpenAI's competitor Cohere, in which Nvidia has invested, intends to launch an IPO in the US soon. Unilever, one of the world's largest FMCG producers, faces the risk of postponing the planned November IPO of its ice cream business due to the US shutdown. American electric car manufacturer Rivian will pay $250 million to shareholders accusing it of fraud in the initial public offering. The main events on the IPO market during the week are in our selection.

Open AI