OpenAI is working on a confidential IPO prospectus that could be filed shortly, although timing remains fluid, a person familiar with the situation tells Axios.
Why it matters: News of the planned filing, which was also reported by other outlets, seems timed to take some shine off the imminent IPO unveiling by Elon Musk's SpaceX.
Ride-sharing wars are heating up in New York, where an upstart service called Empower is undercutting Uber and Lyft prices by an average of nearly 30%, according to Obi, a real-time pricing aggregator.
Why it matters: Empower's explosive growth shows how hungry people are for a cheaper ride-sharing model, but officials allege the company is operating illegally.
Automakers and suppliers in search of a lucrative side hustle are dabbling in AI, energy and defense as a way to offset stagnant growth in vehicle sales.
Why it matters: Carmakers have tried the diversification game before — but today's economic and technological shifts may give those efforts more staying power.
Nissan, the company that pioneered mass-market electric vehicles with the original Leaf in 2010, is betting on hybrids to help propel its turnaround effort.
Why it matters: U.S. consumers are hungry for hybrids, but Nissan has largely sat out the segment in its biggest market.
GHO Capital of London has agreed to merge with Singapore-based rival CBC Group, forming a dedicated health care investment firm with over $21 billion in assets under management.
Why it matters: This is about scaling for survival, as generalist PE giants have begun to crowd out smaller players in health care.
Americans' favorite brands this year are perceived as more politically neutral and associated with wellness and optimism, according to the new Axios Harris Poll 100 rankings.
Why it matters: It's a shift from the pandemic and post-pandemic era when highly regarded companies were often ones with clear corporate values, even if they were politically polarizing.
Vox Media has agreed to sell its podcast business and some publishing assets to James Murdoch's investment firm Lupa Systems, the company announced Wednesday.
Why it matters: The publishing giant has been eyeing opportunities for months to sell its business in pieces, with the hope of reaping greater shareholder value than trying to sell it as a whole.
New reports underscore how electric vehicle sales are rising globally even as they've dropped sharply in the U.S. — and how the Iran war could lead even more people to buy them.
Why it matters: EVs help displace oil use and lower emissions. Petroleum price spikes from the Iran war appear to be boosting sales in some places, too.
Fast-growing Southern metros offer the best job opportunities for new college graduates, according to a new study.
The big picture: Birmingham, Alabama, and Tampa Bay, Florida, top the list, based on payroll processor ADP's ranking of 20-something hiring rates, wages and affordability.
Investors went on a stock-buying binge earlier this month, even as inflation worries increased, finds the latest release of Bank of America's influential global fund managers' survey.
Why it matters: The outsize optimism helps explain the run-up in stock prices over the past few weeks.
Nvidia CEO Jensen Huang might need to lose the leather jacket, as a new crew of "cool kids" tops the chip sector.
Why it matters: As the largest U.S. company by market capitalization (now $5.4 trillion!), Nvidia has the single biggest influence on broad market cap-weighted indexes like the S&P 500.
So, the market will benefit if Nvidia maintains its mojo.
All 50 states have average gas prices above $4 a gallon, AAA said Wednesday, with seven now topping $5 a gallon.
Why it matters: As the war with Iran approaches the three-month mark, soaring fuel prices are costing Americans millions of dollars a day, crushing small business profits, and driving a surge in inflation.
Target says shoppers are responding to a strategy reboot centered on style, discovery and experience — early signs the retailer may be regaining its footing with shoppers after years of uneven performance.
Why it matters: After several years dominated by inflation, inventory problems and operational challenges, Target is trying to return to what historically made the chain distinctive: affordable style, culturally relevant merchandise and a more emotional shopping experience.
House Democrats plan to push legislation regulating the use of AI in political ads if they retake power next year, Axios has learned.
Why it matters: The use of AI in election ads has exploded in the 2026 midterms, with some campaigns using the new technology to push the limits of negative campaigning.
