Sebastian, a veteran of a tech writer with over 15 years of experience in media and marketing, blends his lifelong fascination with writing and technology to provide valuable insights into the realm of mobile devices.
The ubiquitous AI project OpenAI is struggling to generate profits. In fact, it could generate $14 billion in losses by 2026… but that's not a problem.
The company is expected to report a $5 billion loss in 2024, with potential losses reaching up to $14 billion by 2026. These staggering figures underscore the immense costs associated with developing and maintaining advanced AI technologies in a rapidly expanding market. Despite these financial strains, OpenAI continues to attract strong interest from investors. At the beginning of October, the company announced a successful funding round, securing $6.6 billion in new investments and pushing its valuation to $157 billion. This influx of capital is expected to help accelerate OpenAI's mission and drive future growth.
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