OpenAI’s Next Round, SpaceX’s Big Plans, & Reforming the MBA Program 10/23/26

OpenAI is closing a ~$30B round near a $1.25T valuation as SpaceX simultaneously pursues telecom expansion and pricier debt.

• OpenAI's mega-round: OpenAI is negotiating a ~$30B funding round led by UAE investors and Philippe Laffont's Coatue, targeting a ~$1.25T valuation (vs. $850B in March), with a deal expected by month's end; a UAE computing-capacity deal is also being negotiated.
• SpaceX's dual bets: SpaceX is reportedly in talks with Crown Castle for 80,000+ cell towers to build a fourth wireless network, pressuring AT&T/Verizon/T-Mobile/Crown Castle/American Tower stocks, while separately marketing $40B in bonds with junior tranches yielding 8.3%.

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