Strategy Raises $15 Billion Using ChatGPT-Designed Preferred Stock

Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), shared his insights on wealth creation in the AI era after raising $15 billion over the past year. He used a preferred-stock product designed with ChatGPT to achieve this feat, which allowed his company to raise capital without the constraints of convertible bonds.

Saylor emphasized that entrepreneurs should stop competing with machines and start directing them. He believes that partnering with AI can lead to the creation of new financial products that don't yet exist. Both Saylor and Microsoft's CEO Satya Nadella have described AI as a 'co-pilot', highlighting its potential to revolutionize industries.

The $15 billion figure represents the capital raised by Strategy, not personal profit earned by Saylor. His company used this capital to purchase Bitcoin, but has since sold some of it to cover preferred dividend payments and interest obligations. Strategy still holds 842,138 Bitcoins at an average cost of $75,419 per coin, which is below the current market price.