Friday, June 9, 2023
HomeTechnologyChatGPT Maker OpenAI's Losses Swell To $540 Mn, Likely To Keep Rising

ChatGPT Maker OpenAI’s Losses Swell To $540 Mn, Likely To Keep Rising

New Delhi: The losses of Microsoft-backed OpenAI, the developer behind highly-successful AI chatbot ChatGPT, reportedly swelled to almost $540 million final yr and are more likely to solely preserve rising. According to The Information, OpenAI`s losses doubled because it developed ChatGPT and employed key workers from Google.

“The previously unreported figure reflects the steep costs of training its machine-learning models during the period before it started selling access to the chatbot,” the report famous. (Also Read: Google I/O Event 2023: Top 5 Launches Expected From The Happening)

OpenAI in February this yr launched a brand new subscription plan, ChatGPT Plus, that’s accessible for $20 a month. (Also Read: Top 8 Countries With Highest Inflation)

However, the report talked about that even when the income picks up, OpenAI’s losses are more likely to preserve rising as “more customers use its artificial intelligence technology and the company trains future versions of the software”.

OpenAI CEO Sam Altman has “privately suggested OpenAI may try to raise as much as $100 billion in the coming years to achieve its aim of developing artificial general intelligence (AGI) that is advanced enough to improve its own capabilities”.

Elon Musk, Twitter CEO and an early investor in OpenAI, tweeted late on Saturday: “That’s what he (Altman) told me”. Musk, who has criticised OpenAI a number of instances, final month created a brand new firm referred to as X.AI which can promote AI within the ChatGPT period.

It was Musk who initially invested $100 million in OpenAI, however later exited the corporate. In latest months, ChatGPT and GPT-4 have turn into a rage worldwide.

OpenAI lately closed a greater than $300 million share sale at a valuation between $27-$29 billion, based on studies.

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