AI Stocks & Big Tech Earnings: Why OpenAI Partners are Falling | The Pulse 4/28

Summary

In this episode of The Pulse from Oslo, Francine Lacqua interviews Norges Bank CEO Nicolai Tangen on market volatility, AI productivity, and real estate opportunities. Huw van Steenis discusses private credit resilience and restructuring opportunities. BP reports strong earnings driven by oil trading and absence of Gulf production, while Shell's Canadian LNG deal addresses growth concerns. The show also covers OpenAI missing targets and Formula 1 CEO on geopolitical risks.

• Norges Bank CEO says markets are surprisingly resilient despite geopolitical risks and inflation worries.
• AI productivity gains are real but it's unclear if stock prices fully reflect them.
• Real estate has become more attractive after a tough period.
• Private credit is facing localized issues but remains broadly resilient with opportunities in restructured loans.
• BP's earnings beat due to oil trading profits and no exposure to Gulf of Hormuz.
• Shell's acquisition in Canada provides a sustainable oil and gas growth platform.
• OpenAI's missed sales targets raise questions about ROI on massive AI infrastructure spending.
• Formula 1 CEO notes high geopolitical risk affecting races and logistics.