"Open" "AI" is Going Bankrupt, Appealing for Government Bailout
New graph (a day ago, latest data):
It used to be near 2000M. To be clear, going "public" (not private) in Wall Street means an "exit" or passing the debt to other gullible fools, chasing yesterday's gold rush.
Yesterday in Daily Links we included 4 links about "Open" "AI" talking about bailouts. Some reports say that a lot of the financial announcements (e.g. with AWS) are a smokescreen and allude to money that does not even exist!
NVIDIA is understandably concerned as it stands to lose the most; its CEO now talk about some fictional "race with China" over slop (which he has conveniently mislabeled as "AI", just like fake coins or pyramid schemes call themselves "crypto"). It's the old nonsense about "AI arms race", which compels regimes to give taxpayers' money to a bunch of fraudsters, based on flawed premises such as slop inevitability or "AI takeover" or some other infantile fantasy (baseless hype, basically).
Days ago we saw reports that "Open" "AI" was losing over 10 billion dollars per quarter, not per year, and Scam Altman refused to speak about the profitability problems (when asked).
We also published what turned out to be overly optimistic: OpenAI: If OpenAI Survives Another 2 Years, It'll be About 30 Billion Dollars in Cumulative Losses/Debt
It if it loses 10-15 billion dollars per quarter, as The Register MS reported or estimated, that's about 50 billions in losses per year or cumulative (total) debt higher than the fictional (false) "market cap" of this scammy company.
Let's face it: "Open" "AI" is dying. It's pretending to be anything other than dying.
The traffic to the "Open" "AI" Web site is falling (ChatGPT is reportedly losing users too, usage is declining), GPT-5 was a giant failure, and there's no turning point.
The stock market will react - albeit slowly - to the "sinking feeling". All this slop is a giant bubble and it was all along sold based on lies, boosted by media that got paid to spread these lies.
The writings have been on the wall for years. Over two years. These writings have been suppressed by corruptible media like The Register MS. In the competition for truth and perception, the misinformation campaigns were simply better funded (by scammers). █