Saylor says ChatGPT helped design Strategy preferred stock structure

Strategy co-founder Michael Saylor said he used generative AI tool ChatGPT to help design the structure of the company’s preferred stock issuance, describing it during a live session as the first "AI-designed security" in history. Saylor said AI generated 80% to 95% of the ideas needed to address complex financial and legal issues, including perpetual dividend and perpetual call option structures, and added, "AI" was used to maximize the efficiency of capital markets activity while the funds raised are used for the company’s ongoing Bitcoin buying strategy.