Tech Valuations Are Back to Pre-AI Boom Levels
https://www.apollo.com/wealth/the-daily-spark/tech-valuations-back-to-pre-ai-boom-levels
#HackerNews #TechValuations #PreAIBoom #AIIndustry #Trends #Finance #News
Tech Valuations Are Back to Pre-AI Boom Levels
https://www.apollo.com/wealth/the-daily-spark/tech-valuations-back-to-pre-ai-boom-levels
#HackerNews #TechValuations #PreAIBoom #AIIndustry #Trends #Finance #News

The South Korean M&A market remains subdued amid high interest rates, with tech sector valuations soaring and buyers increasingly cautious, leading to a widening gap between seller and buyer expectations and a shift toward smaller, risk-diversifying deals.
OpenAI staff just sold $6.6B worth of shares at a $500B valuation. The twist? They left $3.4B on the table—only 64% participated.
Either they think it's going higher, or they're spooked by the messy nonprofit conversion still pending regulatory approval.
When employees won't cash out at half a trillion, that tells you something.
https://www.implicator.ai/openai-staff-cash-out-6-6b-at-a-500b-valuation-yet-leave-3b-unsold/
OpenAI employees sold $6.6 billion at a $500 billion valuation—but left $3.4 billion authorized shares unsold. The company calls it confidence. It could be caution about a restructuring still awaiting regulatory approval while burning $2.5B per half.
Stifel projects the S&P 500 will decline by about 12% in the second half of 2025, citing a sharp U.S. growth slowdown, persistent inflation, and excessive tech valuations, as global trade tensions and Fed policy uncertainty weigh on markets.