OpenAI Targets Investment Banks With Verticalized AI Tool

OpenAI has launched "ChatGPT for Financial Services," a specialized tool designed specifically for equity researchers and investment bankers. As first reported by the Financial Post, the product is aimed primarily at large financial institutions to help teams develop client materials, financial models, and research using the specific formats of their respective firms.

Built on the GPT-6 Astra model, the tool integrates data from LSEG News, PitchBook, and Daloopa. The service will incorporate datasets such as company fundamentals, financial statements, and earnings transcripts. To ensure accuracy, the tool includes granular citations that allow users to verify claims and figures against original sources. Nick Turley, VP of product at OpenAI, stated that the goal is to enable ChatGPT to conduct research and support conclusions in the manner of an analyst.

This move reflects a broader strategic shift toward enterprise clients, which the company views as more profitable than its traditional consumer base. OpenAI CFO Sarah Friar noted at a Goldman Sachs conference in San Francisco that the company's consumer and enterprise segments reached a nearly equal split earlier this year.

The expansion comes as OpenAI competes with Anthropic PBC for corporate adoption. Both companies have filed confidential paperwork to go public, with the Financial Post reporting that Anthropic is expected to IPO as early as this fall, preceding OpenAI.