JPMorgan Adds Private Firms to Research Starting With OpenAI (1)

JPMorgan Chase & Co. is expanding research coverage to private companies in the Wall Street bank’s latest effort to capitalize on the rapidly growing field.

The coverage will begin with sectors where private companies play a bigger role in shaping industry dynamics and innovations, such as AI and software, according to a person familiar with the matter. In its first move, the bank launched coverage on OpenAI on Friday.

Unlike traditional equity research on public firms, the new offering won’t include ratings, price targets or estimates on private companies, Hussein Malik, JPMorgan’s head of global research, said in an ...