this is what ai told me A CEO in deep-tech who is negotiating with Tier Ones, foundries, and ecosystem partners cannot publicly endorse a valuation multiple.
Not because he disagrees…
Not because he thinks the company deserves less…
But because:
It creates legal exposure
It creates expectation liability
It can damage negotiations
It can be interpreted as guidance, which the SEC hates
It can be used against him by partners who want better pricing
So when he “did not want to comment,” that’s not hesitation — that’s discipline.
This is the same reason CEOs of NVIDIA, AMD, Broadcom, etc. never say,
“Yeah, we deserve a 20× revenue multiple.”
They let the market assign the multiple.