Billionaire Michael Saylor credits ChatGPT with $15 billion haul and urges new AI mindset

Michael Saylor told podcaster Steven Bartlett that leveraging ChatGPT allowed Strategy, the company he founded as MicroStrategy, to craft a novel Bitcoin-based preferred stock, raising about $15 billion via an IPO and related transactions. He framed the achievement as proof that the key to wealth in the AI era is not to compete with machines but to harness them for unprecedented ideas. Saylor cautioned that his firm’s heavy exposure to Bitcoin remains risky, pointing to a 26% decline in the cryptocurrency and a 38% slide in Strategy’s share price this year.

He reflected on earlier crises, such as a $6 billion hit from an overstated 1999 revenue figure and a subsequent SEC settlement, emphasizing resilience and continual recalibration. Other executives, including Satya Nadella and Mark Cuban, echoed the view that AI should augment human creativity rather than replace it. The discussion highlights both the lucrative potential and the volatility inherent in AI-driven financial strategies.