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Oracle made a $300 billion bet on OpenAI. It's paying the price.
(finance.yahoo.com)
This is a most excellent place for technology news and articles.
GPT goes beyond chat, copilot code generation is also based on that. They also have generative visual stuff, like Sora.
Then there is brand recognition I guess, tech bros and finance bros seem to love OpenAI.
OpenAI isn‘t very good in any of those categories and they still have no business model. Subscriptions would have to be ridiculously high for them to turn a profit. Users would just leave. But to be fair that goes for all AI companies at the moment. None of their models can do what they promise and they‘re all bleeding money.