Michael Saylor, founder of MicroStrategy, said he made $15 billion last year by leveraging ChatGPT to transform his company’s approach, according to an interview published on Thursday by fortune.com. Saylor emphasized the importance of using AI tools rather than competing against them, stating that working harder against automation is counterproductive.
Saylor explained that after MicroStrategy shifted its focus to Bitcoin and exhausted traditional capital-raising methods, he used ChatGPT to design a Bitcoin-based preferred stock. This financial product was initially met with skepticism by lawyers and bankers due to its novelty. The AI-driven innovation helped MicroStrategy secure new funding avenues and expand its cryptocurrency holdings.
This development highlights the growing role of AI in reshaping financial strategies and corporate innovation. MicroStrategy was the first publicly traded company to adopt Bitcoin as a major treasury asset, and Saylor’s use of ChatGPT to create novel financial instruments underscores AI’s potential to drive complex business solutions. The case stands out amid increasing AI adoption across sectors.
Saylor’s remarks came during a Diary of a CEO interview with podcaster Steven Bartlett, where he advised builders to embrace automation rather than resist it. At 61, Saylor’s experience reflects a broader trend of integrating AI into strategic decision-making to generate significant financial returns.