02:44 PM EDT, 10/21/2025 (MT Newswires) -- Microsoft ( MSFT )-backed (MSFT) OpenAI has hired over 100 former investment bankers to help train its artificial intelligence on building financial models as part of a confidential project named Mercury, Bloomberg reported Tuesday, citing documents.

Project participants are paid $150 per hour to create prompts and financial models for different transaction types, including restructurings and initial public offerings, a source familiar with the effort told the news outlet.

The AI project, which targets to replace entry-level tasks at investment banks, has tapped former employees of JPMorgan Chase ( JPM ) , Morgan Stanley ( MS ) , and Goldman Sachs Group ( GS ) , according to the report.

OpenAI did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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