According to The Information, OpenAI is projected to have rapidly growing revenue, potentially reaching $100 billion by 2029, but prior to that, the company could incur losses of up to $44 billion between 2023 and 2028.
Accordingly, OpenAI reported a loss of $340 million in the first half of 2024, and the company revealed that it would not be able to become profitable until 2029.
OpenAI was recently valued at $157 billion after successfully raising $6.6 billion.
The Information revealed that the most worrying aspect is OpenAI's request for investors to exclude billions of dollars spent on training AI models (this is one of OpenAI's main activities and has resulted in the launch of GPT-4 and more recently, GPT-o1).
According to a venture capital expert, an AI company cannot exclude the cost of training AI models—a fundamental business expense—when reporting earnings. For an AI company like OpenAI, AI training is an ongoing and never-ending process.
Investors expect OpenAI to go public in the coming years. However, the Securities and Exchange Commission focuses heavily on measuring profitability and does not allow the exclusion of many business expenses.
Venture capital experts also noted that other costs for OpenAI could decrease in the coming years. This would help OpenAI reduce its losses. However, the cost of training AI models cannot be ruled out, and this is a significant, ongoing fundamental cost of providing the service.
OpenAI is not the first company to ask investors to disregard core operating costs. Groupon, a leader in the group buying model, and WeWork have done the same before.
Accordingly, prior to its 2011 IPO, the company asked investors to consider excluding certain marketing-related expenses.
In 2019, the company again asked investors to focus on "community-adjusted EBITDA." Essentially, the company wanted investors to disregard the costs of running its business.
OpenAI is doing something similar. However, this will eventually stop to some extent if they prepare their prospectus for an IPO.
Source: https://kinhtedothi.vn/openai-co-the-lo-toi-44-ty-usd.html
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