Before we get to what’s coming this week, let’s take a moment to honor the company that has honed the power of magical thinking. That would be OpenAI, whose latest long term revenue and profit projections we reported on Friday night here. The most important element of the report was that in 2025, the cost of running AI models quadrupled, so the company’s gross margin fell to 33%, which is below the 46% it had expected. Whoa! True, OpenAI’s revenue was a tad higher than it had projected—$13.1 billion—but if OpenAI was a regular company reporting its earnings, the worse than expected gross margin wouldn’t be treated well by the market. Nor would the fact that the company projected it would burn more than twice as much cash through 2030 as it had previously projected. Investors would be dumping the stock! But then, OpenAI is a private company, whose shares aren’t freely traded. And many investors have convinced themselves that OpenAI is a juggernaut and the profits will eventually come. But how exactly is that going to happen?