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OpenAI, which transitioned from a non-profit to a capped-profit organization, is currently valued at $157 billion after raising $16.6 billion in funding. However, the company is facing substantial financial challenges, reporting a projected loss of $5 billion for 2024 and daily losses of approximately $700,000 from its ChatGPT subscription service. As OpenAI navigates these financial hurdles, it has been noted that the total amount of investor funds utilized has reached $20 billion. Additionally, Elon Musk has filed a lawsuit against OpenAI, raising questions about the company's adherence to its original ethical mission. The financial situation has prompted discussions about the sustainability of its business model amidst increasing operational costs.
OpenAI Finances: The Current Development (Part 2) After tracing the history of OpenAI in the first part, in the second part I turn my attention to OpenAI's current finances. Is OpenAI profitable? To what extent are losses in venture capital normal? And in which direction will… https://t.co/tbiVYisf4q
"A free market promoting free and fair competition that drives innovation" but in October OpenAI asked investors to avoid investing in other five startups (xAI, Anthropic, SSI, Perplexity and Glean) 🤔 Was this just a rumor? https://t.co/ryjnoKUUcl
Reality check: OpenAI is admitting losses on Pro subs - they burn $700K/day on ChatGPT. With projections showing $5B loss in 2024 and $20B investor funds swallowed, raising more users results in bigger losses. All that AI, missing basic maths: Revenue > Costs. #TechFinance https://t.co/qnbSZC412R
