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OpenAI's annualized revenue hits $10 billion, up from $5.5 billion in December 2024 (www.reuters.com)
submitted 1 year ago by to c/technology@lemmy.world
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[–] 4 points 1 year ago (2 children)

Do you think OpenAI could be falsifying data, laundering money, or is it just that investors are hyped about AI?

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  • [–] 6 points 1 year ago* (last edited 1 year ago) (1 child)

    I assume that any venture backed company riding the crest of a hype wave is doing all three of those things, (because many past venture backed companies riding the crest of a hype wave have turned out to be doing all three of those things.)

    There are more con-artists at an average technology investment conference, than there are free vendor labeled give-away USB drives.

    But OpenAI is still a real tool, and actually does some interesting stuff. (Contrasted with many past venture investment hype waves that were 100% pure bullshit, such as various "risk free" finance products, and some "no one asked for this" BlockChain apps.)

    That said - as others in this thread have pointed out - while the revenue quote is a surprising number, it's not completely implausible, by any means. I personally know plenty of people who find an AI product subscription worth a few dollars each month.

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  • [–] 2 points 1 year ago

    Well, it's surprising that OpenAI has that kind of revenue, considering that software companies in that nonprofit sector can't achieve that kind of revenue. If we talk about other sectors like journalism, like the Associated Press, they can achieve that kind of revenue.

    I agree that in technology, there are many scammers, but most fail and don't make an impact. But then there are others who manage to continue and make an impact, like Builder.ai or Theranos. Then there are exceptional cases that do make a big impact, like Enron or WorldCom.

    Well, we'll have to see how their income evolves next year, as well as what their plan will be to transition from a non-profit to a PBC.

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