Yet there’s far more to worry about with OpenAI. The New York Times reported last week that the company will bring in $3.7bn of revenue in 2024, yet lose $5bn. In short, OpenAI spends $2.35 to make $1 - and growth is already slowing down. www.wheresyoured.at/oai-business/
One concerning part of the NYT’s reporting is that OpenAI makes 73% ($2.7bn) of its revenue from ChatGPT Plus/Teams/Enterprise subscriptions - an increasingly-commoditized business where they sell premium access to their LLMs. www.wheresyoured.at/oai-business/
Pop. That. Bubble!!
You get a chance to see this yet Ed? bsky.app/profile/tech...
OpenAI raises $6.6B and is now valued at $157B
ChatGPT maker OpenAI has closed the largest VC round of all time. The startup today announced that it raised $6.6 billion in a funding round that values OpenAI at $157 billion pre-money. Led by previous investor Thrive Capital, the new cash brings…