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OpenAI could be on the brink of bankruptcy in under 12 months, with projections of $5 billion in losses
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this post was submitted on 28 Jul 2024
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Good, please take the entire fake industry with you
No offense to the AI researchers here (actually maybe only one person lol), but the people who lead/make profit off of/fundraise off of your efforts now are demons
I do think that if OpenAI goes bust that's gonna trigger a market panic that's gonna end the hype cycle.
My guess for the dynamics: openAI investors panic, force the company to cut costs and increase pricing, other AI company investors panic, same result, AI becomes prohibitively expensive for a lot of use cases ending the hype cycle.
I think that's the best argument for why the tech industry won't let that happen. All of the big tech stocks are getting a boost from this massive grift.
Worst case scenario one of the tech giants buys them. Then they pare back the expenses and hide it in their balance sheet, and keep everyone thinking AGI is just around the corner.
It's certainly possible, but I don't think any of the tech giants are in a position to do that today. Google, Microsoft, and Amazon are in a cost cutting cycle, Meta's csuite is probably on a short leash after the metaverse boomdoggle. Apple is the most likely one because they're generally behind everyone else across all ML products but especially LLMs, but afaik they're bracing for seeing drops in sales for the first time in 15 years, so buying openAI might be a tough pitch.
I believe that Microsoft owns a huge portion of OpenAI, like just short of majority stake