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Friday, April 19, 2024

OpenAI’s Financial Viability Questioned Amid User Fall, Potential Bankruptcy by 2024: Report

According to a report by Analytics India Magazine, which recorded a user fall on the website beginning in May 2023, OpenAI, the creator of ChatGPT, may go bankrupt by the end of the year 2024.
OpenAI, a Microsoft-backed artificial intelligence research startup, launched the AI race in December 2022. The company’s chatbot quickly gained popularity and grabbed the attention of regulators all over the world. ChatGPT was the talk of the town when it first debuted. ChatGPT has become synonymous with the most generative AI-related technology.
ChatGPT is said to cost $700,000 a day to run. According to the article, all of this is passing through Microsoft’s and other recent investors’ coffers, which may eventually empty them if the company does not become profitable soon.

Despite the fact that OpenAI intends to achieve $1 billion by 2024, Microsoft’s $10 billion investment is keeping the company viable.
However, switching to a commercial version of OpenAI would have allowed the company to benefit in addition to the cash generated from APIs and the use of the GPT-4-based chatbot.

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