Forbes Daily: A Nasdaq That Never Sleeps? Some Analysts Aren’t Thrilled |
Despite being one of the most impactful companies in recent years, OpenAI had yet to make it onto Forbes’ list of America’s Top 200 Private Companies. That changed this year, when the ChatGPT maker made its debut at No. 155.
The company’s revenue is estimated to have hit $3.7 billion in 2024, well behind the $154 billion brought in by agricultural giant Cargill, which holds the No. 1 spot for the fifth consecutive year and for the 38th time since 1985, when it also took the top spot the year Forbes debuted the list.
While OpenAI appears lower on this year’s list, it likely won’t stay there for long. The tech giant is on track to hit $13 billion in revenues in 2025 and could have its eyes on an IPO as soon as 2026.
Wells Fargo analysts criticized the Nasdaq Stock Market’s proposal to extend trading on U.S.-listed equities to 23 hours a day for five days a week, calling the plans the “worst thing in the world” that risk making stock trading “even more like gambling.” The outcry comes after the Nasdaq disclosed Monday that it planned to submit paperwork to the SEC to expand trading hours to include a “day session” from 4 a.m. to 8 p.m. EST and a “night session” from 9 p.m. to 4 a.m.
Crude oil prices surged Wednesday morning after President Donald Trump ordered a blockade on tankers entering and leaving Venezuela. Brent crude oil prices had fallen below $60 a barrel on Tuesday, the lowest price since May, in part due to optimism following Trump’s comments that a peace agreement between Russia and Ukraine was........