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OpenAI - 3 we've - 1 Francine McKenna - 1 McKenna - 1 It's - 1 Groupon - 1 WeWork - 1 ChatGPT - 1
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Search resuls for: "OpenAI's financials"


4 mentions found


☆ OpenAI's AI-adjusted earnings numbers have echoes of Groupon and WeWork
  + stars: | 2024-10-11 | by ( Alistair Barr | ) www.businessinsider.com   time to read: +6 min
Is it OK for an AI company to exclude the cost of training its AI models when it reports earnings? Related storiesFor an AI company like OpenAI, training models will be an ongoing process. The world is constantly evolving, and new data is being generated, which will have to be incorporated into AI models' understanding. Let's call it "AI adjusted earnings" for an AI company. They are a private company," McKenna said.
Persons: we've, Francine McKenna, McKenna, OpenAI, It's, Groupon, WeWork Organizations: Google, Facebook, MarketWatch, Revenue, Big Tech, KPMG Consulting, SAP, Oracle, Securities, Exchange Commission, SEC Locations: It's
☆ OpenAI sees roughly $5 billion loss this year on $3.7 billion in revenue
  + stars: | 2024-09-27 | by ( Hayden Field | ) www.cnbc.com   time to read: +2 min
OpenAI, the creator of ChatGPT, expects about $5 billion in losses on $3.7 billion in revenue this year, CNBC has confirmed. The New York Times was first to report on OpenAI's financials earlier on Friday after viewing company documents. OpenAI, which is backed by Microsoft, is currently pursuing a funding round that would value the company at more than $150 billion, people familiar with the matter have told CNBC. Thrive Capital is leading the round and plans to invest $1 billion, with Tiger Global planning to join as well. The company will retain its nonprofit segment as a separate entity, a person familiar with the matter told CNBC.
Persons: ChatGPT, OpenAI, CNBC hasn't, Sarah Friar, Mira Murati, Matt McIlwain Organizations: CNBC, The New York Times, Microsoft, Tiger Global
☆ OpenAI's nonprofit arm showed revenue of $45,000 last year, even though company is worth billions
  + stars: | 2023-12-12 | by ( Jordan Novet | ) www.cnbc.com   time to read: +6 min
That's from the nonprofit parent's 990 filing with the Internal Revenue Service, a form that has to be filled out by organizations wishing to maintain their tax-exempt status. Thad Calabrese, a professor of public and nonprofit financial management at New York University, said OpenAI's current status is confusing, and is unlike anything he has seen in the nonprofit world. He said OpenAI could give up its nonprofit status, and he cited the Blue Cross Blue Shield Association, which in 1994 allowed associated nonprofit medical insurance plans to switch into for-profit entities. An OpenAI spokesperson didn't respond to a question about whether the organization is considering giving up its nonprofit status. Unlike OpenAI, Mozilla never raised money from venture and corporate investors, who expect returns on their investments.
Persons: Sam Altman, OpenAI's financials, OpenAI, That's, PlainSite, Altman, Helen Toner, Tasha McCauley, Ilya Sutskever, Thad Calabrese, Calabrese, didn't, Mark Surman, Surman, Altman's, hasn't, Bret Taylor Organizations: Internal Revenue Service, CNBC, New York University, Shield Association, Mozilla Foundation, Mozilla Corporation, Mozilla, Microsoft, Duke University Locations: California
☆ ChatGPT cost a bomb to make with OpenAI's losses growing to $540 million last year, report says
  + stars: | 2023-05-05 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +3 min
OpenAI's losses climbed to $540 million in 2022 as it developed ChatGPT, a new report claims. The Information said that the startup's costs soared in the months before it launched the chatbot. AI tools like ChatGPT are expensive given the significant computing power needed to run them. OpenAI's development of the technology came at a steep price, with its losses roughly doubling to around $540 million last year, a new report claims. OpenAI's revenue is projected to rise significantly this year, with expectations that revenue will hit $200 million this year before climbing to $1 billion in 2024, according to Reuters.
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