PYMNTS.com October 10, 2024
OpenAI is reportedly not anticipating to reap yearly profits for another five years.
That’s according to a report Wednesday (Oct. 9) by The Information, citing company financial documents that also show the artificial intelligence (AI) startup could see annual losses of up to $14 billion in 2026.
The revenue forecast showed OpenAI earning $100 billion in 2029, and spending around $200 billion through the remainder of the decade, not counting stock compensation, the report said. The projection shows $44 billion in losses between 2023 and 2028.
The news comes days after OpenAI announced the completion of a $6.6 billion funding round, bringing its valuation to $157 billion.
The Microsoft-backed company, known for its ChatGPT language model, intends to use...
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