OpenAI Rolls Out AI Banking Tool Built With Morgan Stanley and Evercore

OpenAI introduced ChatGPT for Financial Services on Thursday, an enterprise product built with Morgan Stanley and Evercore as design partners that handles company research, financial data analysis, and pitchbook creation for investment banking and equity research teams. The tool runs on ChatGPT Work using GPT-6 Astra and connects directly to LSEG, Daloopa, and Pitchbook, with sourcing tools, chart verification, and permission controls. OpenAI vice president of product Nick Turley said the goal is to "effectively teach ChatGPT to research like an analyst and back up its conclusions like an analyst as well," and the launch follows OpenAI finance chief's August disclosure that enterprise revenue overtook consumer revenue for the first time.

OpenAI introduced a new enterprise product on Thursday designed to take over research and drafting work that has historically fallen to first-year investment banking analysts. The tool, called ChatGPT for Financial Services, handles company research, financial data analysis, and pitchbook creation, and it marks OpenAI’s most direct push yet into a single professional vertical. The timing matters because it lands just as OpenAI is trying to demonstrate that its enterprise business, not its consumer chatbot, is what will carry the company toward a planned public offering. The product was built with Morgan Stanley and Evercore serving as design partners, according to CNBC, and it runs on ChatGPT Work using GPT-6 Astra, currently OpenAI’s most capable model. That detail matters because it signals OpenAI is reserving its top-tier model for high-stakes financial workflows rather than a general-purpose assistant, a choice that reflects how much accuracy and sourcing rigor the banking use case demands. The launch is not an isolated experiment. OpenAI’s own finance chief told investors in August that enterprise revenue has overtaken consumer revenue for the first time, and this product is the clearest evidence yet of where the company plans to keep pushing next. What the product actually does ChatGPT for Financial Services is pitched as a research and drafting assistant for investment banking and equity research teams, the two groups whose junior staff spend the most hours building pitch materials and combing through filings. Nick Turley, OpenAI’s vice president of product, described the goal in blunt terms during a briefing with CNBC: “We’re effectively teaching ChatGPT to research like an analyst and back up its conclusions like an analyst as well.” Direct data access sets it apart from standard ChatGPT Work What separates this version from the standard enterprise product is its data plumbing. The tool connects directly to LSEG, Daloopa, and Pitchbook, giving it built-in access to financial statements and earnings transcripts without a human having to pull the documents manually. CNBC also reported that it can tap into a firm’s existing data subscriptions automatically, which means banks do not need to rebuild their data infrastructure around the tool. Sourcing and permission controls OpenAI has also added features aimed specifically at the trust problem that comes with using generative AI in finance. The product includes sourcing tools that trace figures back to the underlying filings they came from, chart verification functionality, and permission controls meant to keep confidential deal information compartmentalized within a firm. How the demo played out In a live walkthrough covered by CNBC, Turley showed the platform researching a prospective M&A target, pulling financial figures from industry-standard data sources, and producing a formatted PowerPoint deck built to match a bank’s existing template. The demo was designed to show the full arc of a pitchbook task, from raw data to a client-ready document, compressed into a single session. The jobs question Any tool aimed at replacing entry-level banking work invites an obvious question, and Turley was asked it directly during the briefing: will this reduce hiring for junior bankers. He rejected the framing, positioning the product as a productivity gain rather than a staffing cut. “If you study the life of an analyst or of a banker, depending on the industry, they’re working 100-hour weeks,” he said. “I think in the same way that Microsoft Excel transformed the industry and allowed them to produce better analysis faster, you will see technology like this do the same.” Turley did not name any banks that have signed on to use the financial services version beyond the two design partners, and he indicated OpenAI intends to build similar industry-specific products going forward. Where this fits in OpenAI’s broader enterprise push | Initiative | Focus | Partner s named | |---|---|---| | ChatGPT for Financial Services | Research, data analysis, pitchbook drafting for banking and equity research | Morgan Stanley, Evercore | | Synchrony collaboration | Embedding financing and loyalty products into ChatGPT shopping experiences | Synchrony Financial | | Claude for Financial Services Anthropic | Competing Wall Street focused product, launched a year earlier | Not disclosed in source reporting | Competitive pressure from Anthropic OpenAI is not moving into this space unopposed. Anthropic launched its own Wall Street focused product, Claude for Financial Services, roughly a year before this announcement, and the two companies are now competing directly for the same institutional clients rather than just consumer market share. A separate financial services thread: Synchrony OpenAI’s push into finance is not limited to banking desks. Its enterprise collaboration with Synchrony Financial, which focuses on embedding Synchrony’s financing and loyalty products into ChatGPT shopping experiences, shows the company pursuing financial services from the consumer side as well, even as ChatGPT for Financial Services targets the institutional side. What to watch next OpenAI has not disclosed pricing, a broader client list, or a timeline for expanding into other industries, and Turley’s comments suggest the company is treating this as the first of several sector-specific products rather than a one-off release. Whether banks beyond the two named design partners adopt the tool, and how quickly, will likely shape how OpenAI talks about its enterprise strategy heading into its IPO process. Disclaimer: This content was partially produced with the help of AI tools