ChatGPT to Help PitchBook Subscribers Delve into Startups’ Financial Data
As startups choose to stay private even as their valuations reach eye-popping levels, investors want a peek behind the private-market curtain.
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ChatGPT is moonlighting as a financial analyst after its parent company, OpenAI, announced a team-up with PitchBook yesterday.
OpenAI and PitchBook, the go-to research platform for private markets information, are launching PitchBook Navigator, a chat-based tool that leverages AI for startup-related research. That means ChatGPT will tap PitchBook data to do tasks like due diligence and market analysis, completing work that typically takes days within hours.
PitchBook data will also be infused directly into ChatGPT’s own platform for subscribers who don’t want to switch tabs. The new integration could help investors gain insight into the private market, which has been stealing some of the S&P 500’s spotlight.
All Eyes on the Private Market
With more startups choosing to stay private even as their valuations reach eye-popping levels, investors want a peek behind the private-market curtain now more than ever:
- OpenAI’s valuation climbed to $500 billion in October, making it the world’s most valuable company at the time. Reuters reported late last month that the AI company is prepping for an IPO that could value it at as much as $1 trillion. Other private companies are also worth astronomical sums: AI company Anthropic closed a funding round this fall, valuing it at $183 billion, and Bloomberg reported that payments processor Stripe was worth $107 billion as of September. SpaceX, meanwhile, was said to be weighing an insider share sale that values the company at about $400 billion.
- Finance firms aren’t letting the money pass by. Goldman Sachs last month acquired venture capital firm Industry Ventures, which had $7 billion in assets. Morgan Stanley and Charles Schwab acquired two marketplaces that list pre-IPO shares: EquityZen and Forge Global, respectively. The platforms themselves go to show retail investors’ increasing interest in gaining exposure to the startup sector.
Win, Win: For OpenAI, a tie-up with PitchBook gets ChatGPT closer to out-competing traditional search engines like Google. For PitchBook, ChatGPT is the latest addition to its AI integrations. It also has partnerships with Anthropic, Perplexity and other AI companies that can help solidify its position as a Wall Street must-have as more financial execs turn to AI.
