ALTMAN is looking to cash out stock options before OPENAI crashes and burns. much like spez did with reddit.
Can't wait to see their financials in the excruciating detail that's required of an IPO filing.
Irrelevant. Meme stocks don't follow financial rules for valuation. See TSLA.
Where did I mention valuation?
It would be hilarious if in the end this would cause the bubble to burst
hope he brings thiel down with him too.
I'm an atheist, but i pray this happens I'm so sick of AI.
It does seem like someone wants their investments back and pass on the money black hole over to the public.
I'd be surprised if they can continue their business as is after an IPO.
For amateur investors, the question to always ask is why does a company with massive private investments need to go public?
SpaceX is going public at $2 Trillion dollars on like $12b of revenue.
They’re trying to foist the bag on to index funds.
How does that even happen? They just decide what their valuation is??
Yes.
Elon musk had SpaceX buy XAi which bought Twitter all for increasingly more money from himself. The valuation is based on that. Somehow.
Apparently they claim their TAM is $28T because identifying trillion dollar businesses is their core “repeatable business model”. None of the companies folded into SpaceX now are trillion dollar companies. How the argument that the core business is making trillion dollar companies, despite not making any trillion dollar companies, makes any sense I do not know.
Also uhh… don’t look at their declining real revenue, or that they just bought $1B of depreciating assets from Tesla like $138M of cyber trucks. That definitely was not because they weren’t selling.
Edit: Here's a video on this so you all can see exactly how shitty this deal is https://www.youtube.com/watch?v=-X6YzlY_8tM
Yes I believe the TAM or value or whatever of a single company is 12% of all wealth in the U.S. That makes sense.
I have to be honest, I don't know how any investor read their S1 and still wants to put money in this thing.
I mean, I know Carlin said it's a big club and you're not in it, but fuck. They're all in on it.
How can it be possible?
How in the everloving fuck can that happen?
How are the streets not running with blood?
waves hands
Corruption.
Fire all the regulators, find some shit to pump, get all your buddies in, have the NASDAQ make special rules for you, then everyone who bought in private sells on open when the index funds have to buy in. Many pensions may be legally forced to buy this shit to satisfy regulations.
It's fucked. Well over 100x revenue multiples at IPO. They just filled their S1.
The market makers are turning index funds into 2008's CDOs.
Which is insane. CDOs were crazy, but fucking index funds is batshit insane levels of evil. Not just corruption, but all out treason.
Yeah, I’ve been a fan of index investing for a while, but have become very sceptical of the sp500, nasdaq 100, etc. as valuations have become more concentrated.
When so few assets make up such a large portion of the index I think it loses its diversification advantages.
This is why I use international index funds primarily. Small cap is also a solid hedge
I think the US indexes still make up 15% of my portfolio.
AI is making stocks go up, so your saving can go bye bye
Pump and dump, anybody?
We're getting closer to the bubble popping
China won the game. Their models are cheap and available and free weights.
Openai will never make any money. They realized it's a high time to sell so. Wouldnt give a dime
They're also behind Anthropic when it comes to expensive frontier models.
I wouldn't buy their stock even if I was looking to invest in AI.
And, as I understand it, Anthropic hasn't committed as much spending to building out new data centers, and has setup their operations to be GPU agnostic, so they can keep flexibility between NVIDIA GPUs, Google TPUs, and Amazon Trainium, and play the data center pricing game. Anthropic is better positioned to survive an AI winter (and I believe it's coming soon).
Their reputation is also a bit in the toilet, because people hear "AI" and think of ChatGPT.
So "man hospitalised after AI suggested he put glue on pizza for tackiness" would have people think he was using it, when he might well have been using a different LLM.
Have they finally run out of money and need a new source of cash to burn?
A $35 billion investment from Amazon hinges on OpenAI providing an IPO... So this does reek of desperation one way or another.
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