Wall Street needs a crash course in the token economy ahead of AI IPOs. SpaceX offers a preview
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- They're the new currency in artificial intelligence.
- "It's a work in progress for all of us navigating this new terrain," said D.A.
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When Open AI and Anthropic eventually exit the confidential IPO filing phase and make their prospectuses public, investors are going to be inundated with references to a term that remains unfamiliar to many on Wall Street: tokens.
They're the new currency in artificial intelligence. They're how the big model companies get paid. They're how developers now work, using tokens to build apps. But translating tokens into dollars — the currency that investors understand — is complicated, and investors are going to have to quickly get up to speed.