Strategy co-founder Michael Saylor revealed that the company used OpenAI's ChatGPT to help design a new preferred stock structure, raising about $15 billion in credit instruments to support Bitcoin purchases. This innovative structure, including STRK convertible preferred stock and a variable monthly dividend, was created after traditional funding methods like equity sales and convertible bonds became less effective. The AI-assisted design helped the company maintain the stock's value close to its $100 par and introduced novel financial mechanisms not previously seen by lawyers or bankers. Strategy raised over $8.4 billion in Q2 and an additional $1.28 billion in July, continuing to rely on preferred securities for Bitcoin acquisition despite slightly missing revenue estimates.
