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this post was submitted on 04 Sep 2024
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Just because the company has a high valuation, doesn't mean they're making a profit. They're indeed losing a lot of money and will go bankrupt if they don't get new investment and/or increase their ARR soon. Right now, they've only got 12 months left before they're out of money. https://www.windowscentral.com/software-apps/openai-could-be-on-the-brink-of-bankruptcy-in-under-12-months-with-projections-of-dollar5-billion-in-losses
The valuation is based on the expectation of the company to make massive profits. And if you think investor money is not profit for the people running Open AI, you're crazy. We could only hope that they run out of money and go out of business. But that'll never happen now with the amount of faith these corporations are putting in "AI" research.