What OpenAI’s Restructuring Means for Microsoft, AGI — and a Future IPO

Prof G Markets

Prof G Media & Vox Media

Business, Investing, Entrepreneurship

4.3 • 1.4K Ratings

🗓️ 29 October 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ed Elson speaks with Alex Heath, author of Sources and co-host of the Access podcast, about OpenAI’s completed restructuring and the launch of its new for-profit arm. Then he and Scott Galloway dive into Amazon’s largest layoff in company history and what it signals about the stock. Finally, Ed explains why—even after hitting a $4 trillion valuation—he’s still not bullish on Apple. Check out our latest Prof G Markets newsletter Order "The Algebra of Wealth" out now Subscribe to No Mercy / No Malice Follow Prof G Markets on Instagram Follow Ed on Instagram and X Follow Scott on Instagram Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey Sainsbury's. Any way you can save me a few quid on my weekly shop?
0:03.6	Well, Jane, try your nectar prices. Every week in your nectar app, you can unlock up to 10
0:08.8	personalised discounts on things you love at Sainsbury's. A, Jainsbury's, if you will.
0:14.3	Sounds like my kind of place. Get personalized discounts with your nectar prices. That's good
0:19.1	food for all of us. Jamesbris. I mean
0:21.7	Sainsbury. 18 plus nectar app required. Unlock up to 10 your nectar prices weekly, available in
0:26.9	supermarkets online and in locals with smart shop. TNCs apply. Today's number 40. That's how many
0:32.8	miles per hour dolphins can swim. One of the fastest animals in the world. We initially wrote this
0:38.3	joke without a punchline, but we later realized that would defeat the porpoise.
0:43.3	Money markets, Matt. If money is evil, then that building is hell.
0:49.3	The show goes up!
0:50.3	The show goes up! Welcome to Prof G Markets. I'm Ed Elson. We are kicking it off with one of our worst jokes in history, but we love it. It is October 29th. Let's check in on yesterday's Market Vitals.
1:07.0	The major indices closed at record highs, driven by new AI deals and strong third quarter earnings.
1:12.7	Invidia led the gains up 5% after making several announcements at its GTC conference, including a partnership with Nokia.
1:20.6	Microsoft rose 2% and rejoined the $4 trillion club.
1:24.8	So did Apple.
1:25.9	More on that in a second.
1:27.3	Gold fell to a three-week low,
1:29.6	as investors maintained optimism for a US-China trade deal. And all eyes were on the Fed. As they kicked
1:35.9	off their two-day policy meeting, investors are expecting a 25 basis point cut today.
1:43.0	Okay, what else is happening? OpenAI is officially going corporate.
1:47.9	The company announced that it has completed its long-awaited restructuring and has established
	...

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