Plus: OpenAI is preparing to file for an IPO very soon. And Nvidia reports record sales and income, beating estimates. Julie Chang hosts.
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[00:00:00] [SPEAKER_02] Many companies are struggling to scale their AI deployments or even move them past the pilot stage. Often the problem isn't technology, but organizational misalignment around goals, processes and incentives. At the break, join Caroline Roach, Senior Partner IBM Consulting to learn why.
[00:00:16] [SPEAKER_00] Here's your afternoon TNB Tech Minute for Wednesday, May 20th. I'm Julie Chang for The Wall Street Journal. SpaceX has just filed for its long-anticipated IPO, disclosing fresh information on its business and ownership. The company disclosed the information in an investor perspective posted to the Securities and Exchange Commission's website. The rocket maker is looking to raise $80 billion or more, which would easily make it the largest IPO in history.
[00:00:43] [SPEAKER_00] SpaceX had a valuation of $1.25 trillion after its combination with XAI earlier this year, according to Wall Street Journal reporting. SpaceX is now tracking to begin selling shares in mid-June, with a stock market debut on June 12th. Meanwhile, we exclusively report that OpenAI is preparing to file for an initial public offering soon. People familiar with the matter say bankers at firms including Goldman Sachs and Morgan Stanley have been
[00:01:11] [SPEAKER_00] helping the AI giant on a draft IPO prospectus it plans to file confidentially with regulators, possibly as early as Friday. Sources say the goal is for OpenAI to be ready to go public as early as September, but cautioned plans could still change. The chat GPT maker recently won a legal fight with former backer Elon Musk, clearing a major roadblock. And NVIDIA has reported record sales and income, driven by surging demand for data center computing and
[00:01:40] [SPEAKER_00] the astronomical rise of AI agents. Sales for the April quarter reached more than $81.5 billion, up 85% from the year earlier period. Net income came out to more than $58 billion for the quarter, more than three times the year earlier result. Both beat analysts' forecasts. The chip giant also raised its guidance for the current quarter. So far this year, NVIDIA stock is up nearly 20%, making it the largest publicly listed company in
[00:02:09] [SPEAKER_00] the world, with a market value of nearly $5.5 trillion. Shares were roughly flat in aftermarket trading. And that's it for your TNB Tech Minute. We'll have another Quick Tech Update in the morning.
[00:02:20] [SPEAKER_02] Scaling AI successfully requires more than the right technology. Here again is Caroline Roach,
[00:02:26] [SPEAKER_01] senior partner, IBM Consulting. The biggest thing that we were talking about a year ago is what model to use. And the biggest thing that I'm talking about with my clients now is how do I drive change within my organization? Companies able to identify, correct, and then
[00:02:41] [SPEAKER_02] avoid misalignment will be best positioned to deliver meaningful business value from AI.
[00:02:45] [SPEAKER_01] The organizations that are the most successful set very clear targets and have several priorities that are very clear across the enterprise. The technology is really good, but if you're not changing your organizational alignment, not incentivizing your people correctly, not looking at workflows, you're not going to see real value with it.
[00:03:07] [SPEAKER_02] Visit ibm.com slash think slash leadership to learn how building organizational alignment can help deliver AI deployments that scale and drive growth.
[00:03:15] [SPEAKER_00] This content was created by custom content from WSJ, a unit of the Wall Street Journal Advertising Department.