OpenAI may declare bankruptcy by 2024
By MYBRANDBOOK
According to a report by Analytics India Magazine, OpenAI may be in serious danger and may soon have to file for bankruptcy. Apparently, running only one of OpenAI's AI services, ChatGPT, costs the company $700,000 every day. As a result, Sam Altman's OpenAI is currently depleting its financial resources. Additionally, despite their efforts to monetize GPT-3.5 and GPT-4, OpenAI is not yet making enough money, leading to a worrying situation.
As per the report, when OpenAI applied for a trademark on GPT, it was seen as the downfall for the company and was also predicted that many users would eventually stop utilising the technology.
The report also stated that ChatGPT website witnessed a user decline in the month of June and July compared to May. On 3 August, SimilarWeb stated that the AI bot traffic dipped for the second month in a row. A 9.6 percent drop was seen in the month of July while June recorded 9.7 percent decline. Speaking of users, July saw a 12 percent decline with 1.5 billion users as compared to June's 1.7 billion users.
A major reason for this decline could be API cannibalisation wherein most companies have been prohibiting their employees from using AI bot for work. However, they are free to use the API to integrate the large language model (LLM) into other workflows.
Another reason as stated Analytics India Magazine could be the Mark Zuckerberg’s Meta which recently unveiled its Llama 2 chatbot. Microsoft has been appointed as Meta’s preferred partner on Llama 2, which will be available through the Windows operating system. Meta’s Llama 2 has made its product open source which means that the original code is freely available, allowing it to be researched and modified.
Another reason could be persistent Graphics processing unit (GPU) shortage. Altman had pointed out that the lack of GPUs on the market is impeding the company's capacity to improve and develop new models. Earlier on 3 August, media reports stated that the company had filed for trademark application for 'GPT-5' which further indictaes that it wants to keep on training models.
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