Clouded Judgement: OpenAI's App Store Moment and the Rise of the AI Cloud

OpenAI's launch of ChatGPT apps and an Apps SDK represents a transformational platform shift comparable to the early iPhone App Store, positioning the company as a potential cloud hyperscaler for AI workloads rather than just a model or product company. The article analyzes this architectural evolution alongside detailed SaaS valuation multiples, growth rates, and operating metrics from top public software companies, arguing that generational companies redefine themselves by stacking S-Curve opportunities.