Podcast Summary: The Rundown - OpenAI Changes Strategy, Nvidia Predicts $1 Trillion in AI Revenue

Podcast: The Rundown by Public.com
Host: Zaid Admani
Date: March 17, 2026
Episode Focus: Market recovery, Nvidia’s bold GTC announcements, OpenAI’s strategic pivot, and notable stock moves

Episode Overview

This episode delivers high-level insights into recent market trends, the latest from Nvidia’s GTC conference, and OpenAI’s significant change in direction. Zaid Admani breaks down how macro events and corporate shifts are impacting U.S. and global markets, with focused attention on the evolving landscape of AI investment. The episode closes with a discussion on a potential SEC shift away from quarterly earnings reporting.

Key Discussion Points & Insights

1. U.S. Markets Rally Amid Global Uncertainty

[00:38–02:25]

The S&P 500 and Nasdaq rebounded, up 1% and 1.2% on Monday, fueled by an oil price drop and decreasing panic over Middle East tensions.
U.S. stocks are down only slightly since the start of the war (S&P 500: -2.6%, Nasdaq: -1.2%), while international stocks (Japan, South Korea, France, Switzerland) are down 8–10%.
Key Insight: The U.S. is more insulated from energy shocks than other markets.
Crypto and Gold Moves: Bitcoin rose 10% to $74k, Ethereum jumped 20% to $2,300, while gold fell 5% to about $5,000 per ounce.
- Quote: "What I am surprised to see, though, is crypto outperforming gold." — Zaid Admani [01:55]

2. Nvidia’s GTC Conference – Going Bigger on AI

[02:30–07:13]

$1 Trillion Revenue Forecast: Nvidia CEO Jensen Huang announced a new forecast—$1 trillion in AI chip revenue by end of 2027, up from a prior $500 billion forecast through 2026.
- Quote: "Jensen was decked out in his classic leather jacket, making some bold statements." — Zaid Admani [02:45]
New Products: Nvidia introduced a new CPU and an AI system using technology from chip startup Groq (note: not to be confused with Elon Musk’s Grok chatbot—this Groq is a hardware company).
- Strategic Move: Nvidia’s full-stack product for AI inference combines upcoming Vera Rubin chips with GROQ-powered processors, placing them as the dominant inference player.
- Insight: "Inference is when AI models actually answer your questions or run tasks... demand for that is exploding because of the rise of AI agents." — Zaid Admani [04:12]
Robotaxi Partnership with Uber: Nvidia and Uber will launch Robotaxis in San Francisco and LA in 2027, expanding to 28 global cities by 2028. Uber stock jumped over 5% on the news.
Nvidia Stock Context: Despite these moves, Nvidia stock was down 2% this year but remains the world’s most valuable company at a $4.4 trillion market cap.

3. OpenAI Shifts to Enterprise, Hits the ‘Panic Button’

[07:14–09:40]

New Strategy: OpenAI will pull back from "experimental side projects" to focus on monetizable products, mainly coding tools and enterprise solutions.
- Quote: "Over the last year or so they have launched so much stuff and most of it never really gained any traction." — Zaid Admani [07:38]
Leadership Perspective: CEO of Applications, Fiji Sumo, told staff they can’t afford "sad side quests" and must nail productivity, especially for enterprise customers.
- Memorable Moment: "She straight-up said the success of Anthropic was a wake-up call for OpenAI." — Zaid Admani [08:21]
Enterprise is Key: Anthropic's enterprise tools (Claude Code, Cowork) are gaining ground, making the business case compelling.
- "Selling software to enterprise clients is a better business model. These companies are willing to spend... millions of dollars for a boost in productivity." — Zaid Admani [08:42]
Early Gains: OpenAI’s revamped Codex coding app reached 2 million weekly active users (4x from the start of the year).
Market Implications: With OpenAI shifting enterprise, the host wonders if this opens the consumer AI market to competitors like Google.

4. Stock Movers: Delta and Eli Lilly

[09:41–11:05]

Delta Air Lines: Shares climbed ~4% after raising Q1 sales outlook due to strong travel demand and resilient bookings despite higher jet fuel prices.
- "They’ve had eight of the top 10 sales days in the company’s history this quarter alone." — Zaid Admani [09:58]
Eli Lilly: Shares dipped 2% after HSBC downgraded the stock, citing pressure in the weight-loss drug market and more aggressive pricing from Novo Nordisk.

5. SEC Proposal: Optional Quarterly Earnings Reports

[11:06–13:01]

Proposal: The SEC may soon let public companies report earnings semi-annually instead of quarterly.
- Host’s Take: "Selfishly, I'm not a fan of this plan... I want more information." — Zaid Admani [11:13]
Pros/Cons: Quarterly reports drive short-term thinking and create administrative burden, but less frequent updates could cause bigger stock swings.
European Precedent: Despite similar changes abroad, many companies still provide quarterly reports voluntarily.

Notable Quotes & Moments

On Nvidia's GTC:
- "Jensen is doing what he does best, putting on a great show, making big promises, and giving investors just enough to stay, you know." — [06:02]
On OpenAI’s Refocusing:
- "She wants the company to nail productivity, especially for enterprise users." — [08:10]
On Changing Reporting Cadence:
- "If companies do report to a six-month reporting period, I mean, we could see some wild swings in the stock price after their earnings report." — [12:34]

Timestamps for Important Segments

Market Overview & Crypto Moves: 00:38–02:25
Nvidia GTC Announcements: 02:30–07:13
OpenAI Strategic Shift: 07:14–09:40
Delta & Eli Lilly Stock Moves: 09:41–11:05
SEC Earnings Report Proposal: 11:06–13:01

Summary Tone & Style

Zaid Admani delivers his analysis with a conversational, fast-paced style, mixing market data, sharp commentary, and accessible analogies. The episode blends enthusiasm for innovation with a pragmatic perspective on business and investing trends.

For listeners seeking actionable takeaways and a pulse on fast-moving technology and finance topics, this episode distills the essential shifts in the AI landscape, market momentum, and regulatory debates currently shaping investment strategy.

Transcript

A (0:00)

Public.com presents the rundown, your daily market update in under 10 minutes. My name is Zaded Mani, and Today is Tuesday, March 17th. In today's episode, we'll tell you the big announcements coming from Nvidia's GTC conference. We'll also tell you why OpenAI is hitting the panic button again. Then stick around to the end of the show to find out why we might not be getting quarterly earnings reports in the near future. We got a great show for you today. Let's go. Markets kicked off the week on a strong note, bouncing back from last week's sell off. The S P 500 was up 1% on Monday, while the Nasdaq did even better, jumping 1.2%. Now, at this point, the playbook is pretty simple. When oil prices go down, stocks go up. And that's exactly what happened on Monday. Oil dropped about 5% with WTI falling to around $93 a barrel as investors started to feel a little bit less panicked about the Middle east situation in the Strait of Hormu opening. So that was enough to spark a relief rally across the board. Literally every sector finished in the green yesterday. You know, when you zoom out over the last couple of weeks, I think it's pretty impressive that the S P 500 is only down 2.6% since the start of the war back on February 28, and the NASDAQ is only down 1.2%. The same can't be said about international stocks, though. Stock markets in Japan, South Korea, France and Switzerland are all down 8 to 10% this month. So US stocks are outperforming here. And I think a big reason for that is the US Economy is probably less exposed to the energy shock from the war compared to the rest of the world. So, you know, I'm not that surprised to see US Stocks hold up better compared to international stocks in this environment. What I am surprised to see, though, is crypto outperforming gold. Bitcoin has gone up 10% to $74,000 since the war started, while Ethereum has gone up 20%, crossing the $2,300 range. Gold, on the other hand, is down 5%, dropping to near $5,000 an ounce. So yeah, interesting things are happening in the markets right now. And then looking ahead, we have a Fed meeting coming up tomorrow and some inflation data coming out as well. We're staying on top of all of it, so make sure you guys are subscribed to the podcast and tuning in every day to stay in the loop. Let's run through some Headlines starting with Nvidia. Nvidia CEO Jensen Huang took center stage at Nvidia's annual GTC Developer Conference on Monday, kicking off a four day event with a two and a half hour keynote speech designed to remind the audience and Wall street that the company is still the dominant player when it comes to AI. Jensen was decked out on his classic leather jacket, making some bold statements. The one making the headlines was that Nvidia now expects to generate at least $1 trillion in revenue from their Blackwell and Rubin AI chips through the end of 2027. That's a big jump from their previous forecast of $500 billion in revenue through 2026. So they think the AI boom will extend into another year. Jensen also showed off some new products, including a new CPU and a new AI system built using technology from a startup called Grok. Now, just to be clear here, I'm not talking about Elon Musk's Grok chatbot. This is Grok with a Q. It's a chip startup that Nvidia basically absorbed through a licensing deal back in December. This acquisition by Nvidia was very underrated because Grok makes chips that are designed to make AI inference way faster. And Jensen thinks that we are approaching an inference inflection moment when it comes to AI computing. See, inference is when AI models actually answer your questions or run tasks. And the reason the demand for that is exploding is because of the rise of AI agents. So now Nvidia is building a full stack product for inference, combining their upcoming Vera Rubin chips with their new GRO powered processors to position themselves as the dominant player for inference. And looking beyond just chips, Nvidia also shared some details about their new Robotaxi partnership with Uber. The two companies plan to deploy a fleet of Robotaxis powered by Nvidia's autonomous driving software onto Uber's ride hailing network. This will initially start in San Francisco and L A in 2027 and then expand to 28 cities globally by 2028. This was a big boost for Uber stock. It's up more than 5% this morning on this news. So yeah, you know, Jensen is doing what he does best, putting on a great show, making big promises and giving investors just enough to stay, you know. Nvidia stock is down around 2% on the year heading into the event, but at a $4.4 trillion market cap, Nvidia is still the most valuable company in the world. Now, speaking of AI, let's talk about OpenAI because there's some interesting stuff happening behind the scenes According to a report from the Wall Street Journal, OpenAI is planning a major strategy shift. They're going to pull back on all their experimental side projects and refocus on things that actually make money, which are coding tools and enterprise customers. The last few months have been a reality check for OpenAI because over the last year or so they have launched so much stuff and most of it never really gained any traction. There was the video app Sora which was hot for a minute but then that fell off. They also launched a web browser that nobody use and they're also working on consumer hardware. But now OpenAI's CEO of Applications, Fiji Sumo, told staff in an all hands meeting last week the company can't afford to get distracted by what she called sad side quests. She wants the company to nail productivity, especially for enterprise users. I mean, she straight up said the success of Anthropic was a wake up call for OpenAI. Anthropic is the maker of Claude and they gained some serious traction in the enterprise space thanks to tools like Claude Code and Cowork, which are becoming go to tools for developers and companies. And the reality is selling software to enterprise clients is a better business model. These companies are willing to spend more time, hundreds of thousands of dollars, if not millions of dollars for a boost in productivity. You know, it's better than selling a $20 a month subscription service to consumers. And OpenAI is feeling the pressure to continue to grow the revenues to justify their insane valuation. So it seems like OpenAI is pivoting to be an enterprise company and they're already starting to gain some ground here. Their updated Codex coding app now has more than 2 million weekly active users, which is up nearly 4x since the start of the year. But I wonder, with OpenAI focusing on the enterprise space, what is going to happen to Chat GPT? I feel like most non techi don't even know what Claude or Gemini is, but almost everyone knows what Chat GPT is. So I wonder if this opens the door for maybe someone like Google to end up dominating the consumer AI market. Definitely something to keep an eye on. Let's talk about some stocks making moves today. Shares of Delta are up this morning after the airline raised its sales outlook for the first quarter. The company says they're seeing high travel demand. In fact, they've had eight of the top 10 sales day in the company's history this quarter alone. So even with a war going on and oil prices going up, people are still booking flights. Now jet fuel prices have gone up and that's expected to cost Delta an extra $400 million. But thanks to the strong bookings and higher ticket prices, Delta still expects to hit their Q1 profit outlook, which was a big sigh of relief for investors. As a result, shares of Delta are up around 4% this morning at the time of this recording. Now, on the flip side, Eli Lilly is sliding. Today. HSBC downgraded the stock and slashed their price target from $1,070 down to $850. HSBC thinks the weight loss drug market just isn't going to be as massive as everyone expects. On top of that, pricing pressure is heating up. Novo Nordisk, the maker of Ozempic and Wegovy, is getting more aggressive on slashing prices. As a result, shares of Eli Lilly are down around 2% this morning at the time of this recording. Let's wrap the show with the fun fact the SEC might be getting rid of quarterly earnings reports. According to a report from the Wall Street Journal, the SEC is preparing a proposal that would not require public companies to report earnings every quarter. Instead, companies would have the option to report just twice a year. Now, selfishly, I'm not a fan of this plan beyond the fact that we cover earnings on this show. Just as an investor myself, I want more information. Having to wait six months to see how a company is doing financially, you know, is a long time to wait. But then on the other hand, I can see the benefits of this thing as well. You know, quarterly earnings force CEOs to obsess over short term numbers instead of thinking long term. On top of that, preparing quarterly reports is time consuming and expensive, which could be leading to fewer companies going public these days. So I think both sides have valid arguments and we'll see what happens. This SEC proposal still has to go through a public comment period and then the SEC has to vote on it. So nothing is changing anytime soon. And look, even if this passes, most companies could say still decide to report quarterly. That's what happened in Europe and the UK which got rid of quarterly requirements a decade ago. Many of their companies still report every quarter. But you know, if companies do report to a six month reporting period, I mean, we could see some wild swings in the stock price after their earnings report. Let me know in the comments on what you guys think. Are you in favor of the six month reporting or do you prefer the quarterly reports that we have today? I'm going to guess like 80% of the vote is going to be in favor of the quarterly report. So yeah, vote in today's poll on Spotify and drop your comments as well. Well, all right, guys, that's the rundown for today. Hope you guys enjoyed today's episode. If you did and you have like five extra seconds, consider giving us a five star rating on Apple, Spotify, YouTube, wherever you listen to your podcast. And if you are listening on Spotify, don't forget to vote in today's Spotify poll. Leave us a comment on Spotify. All that engagement really does help us out and it helps helps other people find the show. Thank you guys so much for listening, watching and commenting. Shout out to Mike and Connor for all the work behind the scenes and we'll see you guys back here tomorrow.