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  • OpenAI crosses $1.6B ARR, up from $1.3B in Oct., even with Nov. chaos

OpenAI crosses $1.6B ARR, up from $1.3B in Oct., even with Nov. chaos

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Top stories today:

  1. OpenAI crosses $1.6B ARR, up from $1.3B in Oct.
  2. ASML canceled some Chinese chip equipment sales after U.S. pressure
  3. X stock marked -71.5% by Fidelity, now worth $9B
  4. Premium smartphones ($600+) now 24% of total, iPhone at 71%

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. OpenAI crosses $1.6B ARR, up from $1.3B in Oct., even with Nov. chaos

  • 2024 projection of $5B+ (depending on who was asked).

  • Reportedly raising $10B at $100B+ valuation.

  • OpenAI appears to not have been seriously impacted by the management chaos in November, which saw CEO Sam Altman fired and rehired in 1 week.

2. ASML canceled some Chinese chip equipment sales after pressure from Biden


4. X stock marked -71.5% by Fidelity, now worth $9B

Read more: Axios.

5. Premium smartphones ($600+) now 24% of total, with iPhone at 71%

Apple closed 2023 with 71% market share, vs. 17% for Samsung

6. The most Googled topics throughout 2023

7. VCs switched from crypto to generative AI in 2023

8. Seed round investments stable in 2023 (vs. Q1 2021), as Series E+ rounds -92%

  • Our view: this suggests seed rounds are potentially overcrowded, as they are failing to adapt to the tighter economic circumstances.

9. Interesting videos, posts, and memes

10. Other headlines



  • BYD sells 526K fully electric vehicles in Q4, likely more than Tesla.

  • Nuclear fusion R&D company created by Beijing.

  • MrBeast tells Elon: X not good for video monetization.

  • Wi-Fi 7 promises more stability, reliability with 6-GHz band.

  • Masimo CEO Joe Kiani: WSJ profile

  • toddle: no-code tool to develop web apps 10x faster.*


Tech & law

  • Baidu's $3.6B bid to buy Joyy's YY Live expires as Beijing disapproves.

  • Driverless cars in CA cannot get tickets as no driver inside.

  • Robotaxi startup industry in China facing losses, delays.



  • Saudi Fund deployed record $31.6B in 2023.

  • China injected $50B into policy banks in Dec.

  • Buzzfeed close to selling Complex for $100M; $150B debt due Dec. 2024.

  • Mickey Mouse enters public company.

  • EVs eligible for $7.5K tax credit down to 13 in 2024.

  • Israel cuts base rate from 4.75% to 4.5%, 1st since 2020.

  • The CEO Report: become a better leader by subscribing, 100% free.*

  • Bonner Private Wines: remote wines delivered to your doorstep.*



  • BTC crosses $45K as funding rates explode.

  • SBF will not face 2nd trial; sentencing on Mar. 28.

  • Orbit Bridge hacked for $81.5M.

U.S. politics


  • Iran sends warship to Red Sea after U.S. destroys 3 Houthi boats.

  • Japan earthquake kills 30+.

  • Putin says he wants peace with Ukraine on own terms, but no specifics.

  • Israel's Supreme Court strikes down judicial overhaul law by 8-7.

  • Israel pulls 1K's of soldiers from Gaza Strip, citing economic costs.

  • Iran: prospects for nuclear deal talks “still exists.”

  • North Korea's Jong Un: military should “annihilate” U.S. if provoked.

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