equity valuations

A new wave of tech IPOs is poised to create a generation of employee millionaires, mirroring past Silicon Valley booms. Companies like SpaceX, OpenAI, and Stripe are preparing for public listings, with valuations in the billions, offering significant payouts to their equity-rich staff.

Sam Altman announced OpenAI will invest $2 million in AI tokens in each startup from the latest Y Combinator batch in exchange for equity. This move aims to reduce startups' AI infrastructure costs and encourage the use of OpenAI's technology.

Anthropic employees refused to sell their shares at the $350 billion tender offer earlier this year, and now we know why. The Claude maker has agreed a fresh $30 billion funding round at a $900 billion valuation, the Financial Times reported, nearly tripling its worth in three months. With revenue at $30 billion and an IPO expected by October, staff are sitting on a payday.

The exuberance of Indian investors has pushed valuations so high that MNCs as well as PE/VC funds are seizing the opportunity to exit

Investment part of broader $730 million round; valuation up 30% since last secondary transaction.

OpenAI has enabled over 600 employees to sell shares worth $6.6 billion, with some cashing out up to $30 million. This significant wealth creation is fueled by the intense AI talent war, particularly after Meta's substantial compensation offers, prompting OpenAI to boost salaries and equity packages to retain its workforce.

Indian equity benchmarks Sensex and Nifty closed lower on Tuesday after a late sell-off in heavyweight stocks like HDFC Bank and Reliance Industries erased early gains. Concerns over the rupee hitting a fresh record low and elevated crude oil prices also weighed on investor sentiment, though IT stocks provided some support.

Jefferies raised Bharti Airtel's target price to Rs 2,350 on strong Q4FY26 performance, while JP Morgan upgraded Cipla to overweight citing improved earnings visibility and attractive valuations. Morgan Stanley maintained an underweight rating on Dixon Technologies due to revenue and EBITDA misses, and HDFC Securities upgraded Hyundai Motor India to add, noting management's renewed focus on domestic growth and exports.

Despite the bullish undertone in equities, several risk factors continue to keep investors on edge. The rupee touched a fresh record low after breaching the 95.8 mark against the US dollar for the first time.

Elon Musk is on the cusp of becoming the world's first trillionaire as SpaceX prepares for a monumental IPO, potentially the largest in Wall Street history. The company's $1.25 trillion valuation could significantly boost Musk's net worth, fueled by his majority stake and ambitious plans for AI, Starlink, and Mars colonization.

Billionaire investors Bill Ackman and Sir Christopher Hohn are at odds over Microsoft's future, specifically concerning AI's impact. While Hohn sees AI as a threat to Microsoft's core products, Ackman views the company as central to the AI revolution and has initiated a significant investment, believing its current valuation is attractive for long-term growth.

Persistent foreign fund outflows and the rupee sliding to record lows have further dampened sentiment, prompting investors to stay cautious and intensify selling across equity markets.

Selling abates, foreign funds in no rush to buy: Goldman Sachs

Morgan Stanley maintained an equal-weight rating on Dr Reddy’s Labs, citing missed Q4FY26 estimates and a slight delay in Semaglutide ramp-up. Kotak Institutional Equities recommended buying Dixon Technologies, driven by strong consumer electronics performance. Citigroup reiterated its buy on Max Financial, highlighting margin improvements and sustained growth. Macquarie rated Berger Paints underperform, despite a constructive outlook.

Kotak Securities maintains an add rating on PNB with a revised target of Rs 125, citing steady profitability despite weaker core earnings than peers. Jefferies reiterates a buy on Marico, raising its target to Rs 960, with management confident in strong EBITDA growth.

Musk’s lawsuit against OpenAI and Altman was always a personal, petulant battle, about their ambitions to command the future of humanity. For Tesla boss, this means the loss is acutely painful

19-year-old Samrath Singh Chadha's story is one of passion for computers and AI, and an amazing capacity for persistence. He's been selected to the Y Combinator and Z Fellows accelerator programmes. He is currently training a small, highly specialised model, sub-one-billion parameters, to get coding agents to search faster. He tells youngsters there is big demand for those who can build using AI tools

Indian Hotels saw strong Q4FY26 results with revenue up 14% and profit by 15%, driven by robust hotel operations. UPL's Q4FY26 revenue grew 18%, but earnings were impacted by provisions. Oberoi Realty's Mumbai market shows promise, while PVR reported a 24% revenue jump. Nuvama's wealth and asset servicing segments are performing well.

PM Modi has called on citizens to adopt measures aimed at conserving foreign exchange, as the surge in oil prices triggered by the Iran conflict has intensified pressure on the rupee and strained India’s foreign exchange reserves.

Analysts are bullish on Adani Ports, Indus Tower, and Voda Idea, citing strong performance and growth prospects. Kotak Bank shows solid operating metrics, though RoE lags peers. Bharti Airtel's outlook remains positive despite potential tariff hike delays, with industry repair seen as intact.

Indian equity markets experienced a downturn Friday, with both Sensex and Nifty closing lower. Renewed military tensions near the Strait of Hormuz dampened investor sentiment, leading to profit-booking across various sectors. While IT stocks showed resilience, PSU banks were significantly impacted. Global markets also reflected cautious sentiment.

Foreign investors have offloaded a record $20.6 billion in Indian stocks this year, exceeding 2025's highest-ever annual outflow. The recent West Asian conflict triggered a significant sell-off, with nearly $18.2 billion exiting since the war began. Factors like rising crude oil prices, a weakening rupee, and concerns over company growth and valuations are driving this trend.

Analysts are bullish on Bajaj Finance, IIFL Finance, and Navin Fluorine, citing strong quarterly results and positive future outlooks. Federal Bank is seen as fairly valued, while Waaree Engineering's revenue beat expectations despite margin concerns. Investors are watching these key companies closely.