OpenAI launches GPT-5.5 Instant as ElevenLabs exceeds $500 million in revenue

Key Takeaways

• AI models failed to beat human fund managers in public trading contests, with most systems losing money and making inconsistent decisions.
• OpenAI launched GPT-5.5 Instant, reducing hallucinated claims by 52.5% on high-stakes topics and improving accuracy across medicine, law, and finance.
• ElevenLabs exceeded $500 million in annual recurring revenue in early 2026, backed by investments from NVIDIA, Salesforce, and others.
• JPMorgan CEO Jamie Dimon and BlackRock CEO Larry Fink support AI spending, with Dimon testing Anthropic's Claude model.
• BlackRock's Gargi Chaudhuri advised investing across the entire AI value chain.
• Applied Materials agreed to acquire NEXX from ASMPT to expand AI chip packaging capabilities.
• Workiva beat Q1 expectations with $247.3 million revenue, up 19.9%, driven by large deals and AI investments.
• Revvity reported Q1 sales of $686.9 million, up 9.3%, but missed revenue expectations while investing in AI for clinical trials.
• Rothschild identified Cisco, Juniper, Arista, VMware, and F5 as top AI networking stocks.
• T.A. McCann became CEO of Lev, an AI co-founder for startups, with over $1 million invested by Pioneer Square Labs.

AI trading bots lose money in Wall Street contests

AI models are not ready to replace human fund managers, according to recent trading contests. Most AI systems lost money, traded too much, and made very different decisions with the same instructions. Experts are unsure if these problems will go away as AI improves or if they show a basic gap between AI and how markets work. The results highlight that AI is still a tool, not a replacement, for human judgment in finance.

AI bots fail to beat human fund managers in trading tests

AI is not ready to replace your fund manager, as shown by public trading contests. Most AI systems lost money, traded too often, and made very different choices when given the same instructions. It is unknown if these problems will improve as technology advances or if they reveal a deeper issue. The experiments remind us that AI is a tool, not a replacement, for human expertise in finance.

AI bots fail to make money in Wall Street trading contests

AI models are not ready to replace fund managers, as shown by public trading contests. Most systems lost money, traded too much, and made very different decisions with identical instructions. In one contest, a portfolio lost about a third of its capital, and a model finished in profit only six times out of 32 results. Experts say AI needs sophisticated tools and data to have a chance, and the models have personalities that must be managed like human analysts.

Revvity reports Q1 sales growth with AI investments and portfolio pruning

Revvity reported Q1 CY2026 sales of $686.9 million, a 9.3% increase from last year, but missed market revenue expectations. The life sciences company is focusing on portfolio pruning and AI investments to shape its outlook. Management highlighted strategic investments in AI-powered tools for clinical trials and personalized medicine. These efforts are expected to drive growth and improve operational efficiency.

Workiva beats Q1 expectations with large deals and AI investments

Workiva reported Q1 CY2026 revenue of $247.3 million, up 19.9% year over year, beating Wall Street expectations. Growth was driven by large deal momentum and AI investments, including the acquisition of an AI-powered reporting platform. The company's cloud-based reporting platform saw a 25% increase in sales. Despite strong results, management expressed caution about the macroeconomic environment and increased competition.

OpenAI launches GPT-5.5 Instant with better accuracy and personalization

OpenAI updated ChatGPT's default model to GPT-5.5 Instant, making it smarter, more accurate, and more personalized. The new model produces 52.5% fewer hallucinated claims on high-stakes topics like medicine, law, and finance. It also reduced inaccurate claims by 37.3% on challenging conversations. The update improves factuality, analysis of images, STEM answers, and web search decisions.

BlackRock strategist advises investing across the AI value chain

BlackRock chief investment strategist Gargi Chaudhuri discussed portfolio strategy for AI and gold on Fox Business. She advised investors to play the entire value chain of AI. The segment also covered the performance of gold. The video was published on May 6, 2026.

ElevenLabs reaches $500 million ARR with backing from global investors

ElevenLabs announced it has exceeded $500 million in annual recurring revenue in the first four months of 2026, up from $350 million at the end of 2025. The company is building an AI platform for business communication and received investments from firms like Wellington Management, NVIDIA, Salesforce, Santander, KPN, and Deutsche Telekom. More than 30 entertainment figures, including Jamie Foxx and Eva Longoria, also invested. ElevenLabs plans to expand into creative tools, enterprise AI agents, and international markets.

Alphabet offers a balanced way to invest in AI stocks

Alphabet stock provides a good balance between risk and reward in the AI era, according to a Yahoo Finance article. The company has a market capitalization over $1 trillion and its AI initiatives, like Google Cloud, drive growth. Alphabet's diversified business and strong financials make it less volatile than many peers. Investing in Alphabet offers exposure to the AI market with lower risk.

Rothschild identifies top AI networking stocks to watch

Rothschild, a leading investment bank, identified top AI networking stocks to watch, including Cisco Systems, Juniper Networks, Arista Networks, VMware, and F5 Networks. These companies are developing AI-powered networking solutions to improve performance, security, and efficiency. The list is based on Rothschild's research and analysis. The article discusses their products, financials, and potential risks for investors.

Jamie Dimon and Larry Fink support AI spending as Anthropic targets bankers

JPMorgan CEO Jamie Dimon and BlackRock CEO Larry Fink believe the spending boom on artificial intelligence will turn out fine. Dimon recently tested Anthropic's Claude model and set clear boundaries. As Anthropic targets Wall Street bankers, the risks of AI in finance are building. The article discusses the growing influence of AI in investment banking.

Applied Materials acquires NEXX to expand AI chip packaging

Applied Materials agreed to acquire the NEXX business from ASMPT Limited to expand its advanced packaging tools for AI chipmaking. The deal adds panel level advanced packaging capabilities and requires no regulatory approvals. NEXX brings equipment, technology, and engineering teams. Applied Materials' stock has risen 7.8% over the past 52 weeks, outperforming the S&P 500.

PSL's T.A. McCann becomes CEO of Lev, an AI co-founder for startups

T.A. McCann, managing director of Pioneer Square Labs, is now CEO of Lev, an AI tool that helps founders build startups. Lev grew out of internal tools at PSL and uses AI to guide founders through ideation, validation, and company formation. PSL and its AI Studio Fund invested over $1 million in Lev. McCann is coding again and shipping features weekly, aiming to help a million people a year become founders.

Sources

• AI Bots Auditioning for Wall Street Trading Are Mostly Losing
• AI bots auditioning for Wall Street trading are mostly losing
• AI Bots Auditioning For Wall Street Trading Are Mostly Losing
• RVTY Q1 2026 Deep Dive: Portfolio Pruning and AI Investments Shape Outlook
• WK Q1 Deep Dive: Large Deal Momentum and AI Investments Drive Growth Amid Cautious Outlook
• GPT-5.5 Instant: smarter, clearer, and more personalized
• Investors should 'play the entire value chain' of AI, strategist says
• ElevenLabs Hits $500M ARR as Global Investors Back Conversational AI Expansion
• Owning AI Stocks Doesn't Have to Be Risky -- at Least, Not With Alphabet
• Top AI Networking Stocks to Watch, According to Rothschild
• Jamie Dimon and Larry Fink bless the AI bubble, as Anthropic comes for investment bankers
• Applied Materials Expands AI Packaging With NEXX Deal As Stock Surges
• PSL’s T.A. McCann is running a startup again, as the CEO of Lev — an ‘AI co-founder’ for startups