ChatGPT maker OpenAI likely to go bankrupt by 2024: Report

ChatGPT maker OpenAI is likely to go bankrupt by the tip of 2024 if it would not get extra funding quickly, in accordance to media studies.

Analytics India Magazine reported that ChatGPT web site has seen a steady consumer decline within the first six months of the yr.

The customers declined to 1.5 billion in July from 1.7 billion in June and 1.9 billion in May, revealed knowledge from analytics firm SimilarWeb. This additionally would not embody APIs or the ChatGPT cell app.

While one principle holds that in May college students had been out of college, the opposite says that folks began constructing their very own bots, as a substitute of utilizing the unique providing.

“I’m now not allowed to use ChatGPT at work, however we’ve got developed our personal inside mannequin based mostly on ChatGPT,” a consumer mentioned in a tweet.

Another subject is that after OpenAI developed ChatGPT, which has created a ruckus within the job market over fears that it could substitute human creativity, its losses have doubled to round $540 million final yr, in accordance to a report by The Information in May.

This comes whilst ChatGPT reportedly prices a whopping $700,000 (Rs 5.80 crore) per day to function. Even OpenAI CEO Sam Altman had admitted in a tweet that “compute prices are eye-watering”.

A current report by Investopedia claimed that it’s too early for any AI main firm, like OpenAI, Anthropic, or Inflection, to head into the preliminary public providing (IPO) market.

“It is as a result of it takes at the very least 10 years of operation and $100 million in income for an IPO to achieve success,” the report mentioned.

In addition, billionaire Elon Muskcan also be rising strain with claims of constructing a rival chatbot.

While Microsoft-backed OpenAI has projected an annual income of $200 million in 2023, and goals to attain $1 billion in 2024, its losses are mounting. It is majorly surviving on Microsoft’s $10 billion funding.

(With inputs from IANS)