Wall Street Breakfast OpenAI DevDay kicks off week as shutdown persists
9 snips
Oct 5, 2025 The government shutdown could stretch to three weeks, impacting economic growth significantly. Sam Altman's upcoming keynote at OpenAI's Dev Day has everyone buzzing, especially with rumors of exciting new tech like GPT-5. Bitcoin has surged past $125,000, fueled by ETF inflows. Meanwhile, Costco is partnering with Novo Nordisk to offer weight-loss drugs at a discounted rate. BofA also shares insights on investing trends for the late 2020s, highlighting the rise of AI and shifts in globalization.
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Shutdown's Measurable GDP Drag
- The government shutdown is expected to last about three weeks per prediction markets and economists.
- Goldman Sachs estimates a one-week shutdown trims Q4 annualized GDP growth by ~0.15 percentage points.
Dev Day As Major AI Catalyst
- OpenAI's Dev Day is positioned as a major AI catalyst with Sam Altman giving a keynote and later a fireside chat.
- Market speculation centers on an AI browser and announcements around GPT-5 and multimodal tools.
OpenAI's Sky-High Valuation
- OpenAI reached a private valuation of $500 billion, making it the world's most valuable startup.
- Analysts and ChatGPT expect product roadmap updates like GPT-5, Sora, and a Responses API to be discussed.