Michael Saylor Used ChatGPT to Raise $15 Billion
Michael Saylor claims he used ChatGPT to design a Bitcoin-based preferred stock that helped Strategy Inc. raise $15 billion last year.
Founder of Strategy Inc. Michael Saylor claims he utilized ChatGPT to design a novel Bitcoin-based preferred stock, enabling the company to raise $15 billion last year. Saylor turned to the AI after traditional capital-raising methods were exhausted and financial professionals expressed doubts about the product's viability. Strategy Inc. subsequently secured the funds through an initial public offering and related offerings.
During an interview on Diary of a CEO, Saylor advised professionals to focus on innovation and asking better questions rather than competing with automation. He urged people to avoid trying to outwork robots and instead use AI to accomplish things that have never been done before.
Despite the successful fundraising, Strategy Inc. remains heavily leveraged to the price of Bitcoin. This exposure has impacted the company's valuation, with Bitcoin prices falling 26% this year and Strategy Inc. shares decreasing by 38%.
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