OpenAI didn't sell Wall Street a better model. It sold them a licensed data feed.

The word to stop on is 'removes'. Connecting a model to an industry's real data for licensing it, indexing it, keeping the citation chain intact so an analyst can check the number, was the hard work. Dozens of companies exist to do exactly that, for exactly one sector each. OpenAI has just done it for one of the richest sectors there is and shipped it as a tab. So the test for anyone building a vertical AI product isn't new, but today it's concrete: if the model provider added your core feature next year, what would you still own? Sitting inside a regulated workflow, holding the audit trail and the sign-off, is an answer. 'We connected the model to the industry's data sources' has stopped being one. And note carefully where OpenAI stopped. It didn't build the data. It licensed it from the people who own it, because that's the one part of the stack you can't train your way into.