Key Takeaways
- Sam Altman predicts AI will trigger the "largest boom in the history of global commerce," with OpenAI targeting a $2.5 billion advertising revenue run rate by the end of 2026.
- Barrick Gold (GOLD) is reportedly considering delaying the IPO of its North American gold business to 2027, a shift from its original year-end 2026 target.
- President Trump faces a growing GOP revolt over plans to import 300,000 metric tons of foreign beef tariff-free to combat record-high grocery prices.
- OpenAI has achieved a $1 billion annualized revenue run rate for its advertising business, marking a significant pivot for the AI leader.
- The U.S. cattle herd has hit a 75-year low, creating a supply-demand imbalance that has pushed ground beef prices to nearly $7 per pound.
AI: The "Biggest Business Boom Ever"
OpenAI CEO Sam Altman declared at a tech conference today that artificial intelligence will trigger the most significant commercial expansion in history. Altman emphasized that AI’s impact will extend beyond mere economic value, driving a "step change" in how entrepreneurs bring ideas to market and improving global quality of life in sectors like healthcare and education.
Despite recent leadership departures and stiff competition from Anthropic, OpenAI is aggressively scaling its commercial operations. The company’s advertising business has already reached a $1 billion annualized revenue run rate, with internal goals set at $2.5 billion by late 2026 and a staggering $100 billion by 2030. Altman also pushed back against infrastructure concerns, arguing that fears regarding data-center water consumption are "exaggerated."
Barrick Gold Weighs IPO Delay to 2027
Barrick Gold (GOLD) is reportedly weighing a delay for the initial public offering of its North American gold assets, pushing the timeline from late 2026 into 2027. The Toronto-based miner had previously intended to list the unit—which includes high-value joint-venture interests in Nevada—by the end of this year.
The potential delay comes despite a recent $1.95 billion deal with Newmont (NEM) intended to clear legal hurdles regarding their Nevada joint venture. While gold prices have seen a record-breaking rally, Barrick has faced internal pressure from activist investors and a leadership shakeup following the departure of former CEO Mark Bristow. Shares of Barrick briefly dipped 2% on the news before stabilizing.
Trump’s Beef Import Plan Sparks GOP Backlash
A contingent of GOP lawmakers is seeking urgent talks with the White House tonight regarding President Trump’s plan to import 300,000 metric tons of foreign beef. The administration's "America First" initiative aims to lower consumer costs by waiving tariffs on lean beef trimmings for a 90-day period, with a goal of selling the product at 25% below current market prices.
However, Republican senators from ranching states, including John Barrasso (R-WY) and Mike Rounds (R-SD), have issued rare rebukes, arguing the move undercuts domestic producers. With the U.S. cattle herd at its lowest level since the 1950s, ranchers warn that "flooding" the market with imports will make it impossible for local producers to rebuild their herds, sacrificing long-term food security for short-term price relief.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.