

Trump gets OpenAI to offer US 5% stake
https://www.schwab.com/learn/story/some-indexes-accelerate-entry-massive-ipos
Some Indexes Accelerate Entry for Massive IPOs
FTSE Russell: FTSE Russell announced the results of its index consultation on May 26, 2026, with changes effective as of the same date. Russell’s U.S. Equity indexes will now allow fast entry for very large IPOs on the fifth trading day, instead of waiting for the next quarterly rebalance. However, the weight of the IPO in the index will be based on investable market capitalization. In other words, only shares available to public investors will be considered when calculating the company’s size. Plus, IPOs must have at least 5% of shares available to public investors, either on the IPO date or within the next 12 months.
Uh. So does that 5% count towards the minimum float amount that triggers automatic buying by some index funds?
















Well, China would rather have AI in China than in the US. I don’t think that that part is what’s dumb about this.
I think that if I were the current American far-right, I’d stop dragging the pope into this stuff. Like, there is an anti-Catholic strain in the far-right that’s been around for a long time, but as I’ve commented before, if you start getting those anti-Catholic Protestants riled up, you’re also probably going to antagonize the Catholics, and a Catholic-Protestant schism in the US would be really bad for the Republican Party, since they’re trying to keep social conservatives as a bloc in their coalition.
I guess it’s more-understandable with Thiel than when Trump was having a spat with the pope, since Thiel isn’t as directly a political operator, but still.
If the pope says something that you don’t like, and you’re a prominent right-wing figure in the US, even if you really have it in for Catholics, you’re probably better-off biting your tongue and just addressing the thing they said, not turning it into a conflict with the person. Like, if I were Thiel, I’d have said “AI is really important to make the US competitive on the international stage” or something. Whatever, but avoid referencing the pope in particular.