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OpenAI on verge of bankruptcy and heading for $5B in losses: Report

27 pointsby accidbuddy10 months ago

6 comments

_acco10 months ago
Every startup is &quot;on verge of bankruptcy&quot; by this metric.<p>You&#x27;re only &quot;on verge of bankruptcy&quot; if you&#x27;re in this situation <i>and</i> no one is willing to give you any money.
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gbourne10 months ago
Summary: OpenAI is planning a raise in the next 12 months, current burn rate is $5B, $2B revenue.
willio5810 months ago
If 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&#x27;ve read on the subject.<p>OpenAI is quickly approaching that &quot;Too big to fail&quot; level, whether that&#x27;s a good thing or not.
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jqpabc12310 months ago
It&#x27;s not possible to fully evaluate and judge the utility of LLMs at this time because the real, true costs are still largely unknown.
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snapcaster10 months ago
A less dramatic headline would be: OpenAI will be doing another fundraising round soon
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enraged_camel10 months ago
I love that this story got kicked off the front page the moment it reached it. Not suspicious at all.