this post was submitted on 06 May 2025
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OpenAI abandons plan to become a for-profit company (www.theverge.com)
submitted 2 days ago by cm0002@lemmy.world to c/technology@lemmy.world
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[–] futatorius@lemm.ee 1 points 21 hours ago* (last edited 21 hours ago)

The ultimate value of shares is in the dividends they represent, no?

No. The actual (and only) value of shares is investors' expectation of the value of future appreciation in share value and of dividends. And there is not a constant relationship between share values and dividends: the price-to-earnings (P/E) ratio can vary hugely depending on the nature of the business and on investor sentiment-- for example, P/E can be massive during a speculative frenzy, with no underlying reason besides wishful thinking.