BREAKING: OpenAI Has 100 Ex-Investment Bankers Training AI to Build Financial Models 🤯

The world’s most valuable private company, OpenAI, has reportedly hired around 100 former investment bankers from firms like Goldman Sachs, Morgan Stanley and J.P. Morgan to help train its AI on how to build financial models, according to Bloomberg.

The secretive initiative, codenamed “Project Mercury” has these ex-bankers writing prompts and building financial models for transactions like M&A, IPOs, restructuring and LBOs - aiming to automate much of the traditional grunt work performed by junior analysts.

They’re reportedly being paid $150 per hour for their expertise.

It’s highly likely the project won’t stop at investment banking but will extend to private equity, asset management, consulting, and accounting as well.

AI will impact every industry, and Wall Street is no exception.

Disruption.

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