Stripe gets deep with AI, OpenAI remains non-profit

Author

Noel Moldvai
May 08, 2025

TL;DR. It's about time Stripe made a bigger announcement about how they plan to utilize AI. Just imagine the strides they will be able to make given all the data they’ve accumulated. It will be interesting to see what other use cases they have in their roadmap. Yet again back in the news, OpenAI isn't going for-profit—potentially saving humanity while remaining one of the most complex organizational structures we've ever seen, literally.

The best meme of the week in our opinion.

Stripe unveils AI foundation model for payments, reveals ‘deeper partnership’ with Nvidia

Stripe launched a payments-focused AI foundation model, trained on billions of transactions to sharpen fraud detection—cutting card-testing attacks by 64% overnight for large firms. The fintech also unveiled stablecoin-backed business cards, a new orchestration platform, and a rapid billing integration with Nvidia.

OpenAI abandons planned for-profit conversion

OpenAI will remain under its nonprofit board’s control, shelving plans to shift to a public-benefit corporation. The decision, influenced by legal concerns and civic feedback, preserves its fiduciary duty to humanity. While it complicates fundraising, it positions OpenAI alongside peers like Anthropic and xAI, who already follow this hybrid model.

xAI joins TWG Global, Palantir for AI push in financial sector

Elon Musk’s xAI is teaming up with Palantir and TWG Global to deploy AI across financial services and insurance. The partnership integrates xAI’s Grok models and Colossus compute into enterprise operations, targeting greater efficiency and market expansion as AI adoption rises in legacy industries.

AI-powered coding tool Anysphere lands $900M at $9B

Anysphere, maker of the popular AI developer tool Cursor, just raised a massive $900 million at a $9 billion valuation. Backers include Thrive Capital, Andreessen Horowitz, and Accel. The rapid valuation jump underscores investor appetite for coding-focused AI as enterprise demand for dev tools surges.

The impact of economic downturns on secondary markets

The inner investor in all of us is trained to know that economic downturns signal strife for the market as a whole, including secondaries. 

The sliding stock prices, declining home values, heightened jobless claims, and diminishing output that come with a downturn are bound to spawn a reaction in the market — but how sweeping are the impacts? And how can investors prepare? 

Let’s dig into the correlation between economic downturns in both the public and private secondary markets and how investors should react.

Quick Takes

Cheerio! Until next week.
-Noel