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OpenAI on verge of bankruptcy and heading for $5B in losses: Report
- _acco 2y agoEvery startup is "on verge of bankruptcy" by this metric. You're only "on verge of bankruptcy" if you're in this situation and no one is willing to give you any money.
- forgetfreeman 2y agoTrue and while one could hope that maybe this time (finally) the tech industry grift cycle burns out quickly I think the safer bet is dumb money will prop this hype mill up well past the point that the lack of real-world benefit becomes obvious. plus ça change...
- snapcaster 2y agoA less dramatic headline would be: OpenAI will be doing another fundraising round soon
- sottol 2y agoBut at what terms? That will imo largely depend on the GPT-5 release. Have LLMs plateaued or is there another leap-jump?
- gbourne 2y agoSummary: OpenAI is planning a raise in the next 12 months, current burn rate is $5B, $2B revenue.
- enraged_camel 2y agoI love that this story got kicked off the front page the moment it reached it. Not suspicious at all.
- jqpabc123 2y agoIt's not possible to fully evaluate and judge the utility of LLMs at this time because the real, true costs are still largely unknown.
- deleted 2y ago[deleted]
- willio58 2y agoIf they were on the verge of bankruptcy any number of tech giants would gobble them up immediately. Apple is essentially relying on them to make Siri actually usable in their next iOS for example. Google is scrambling to make their search product stand up against ChatGPT and the SearchGPT. Microsoft is in a strategic agreement with OpenAI from the last I've read on the subject. OpenAI is quickly approaching that "Too big to fail" level, whether that's a good thing or not.
- TesterVetter 2y ago[dead]