eicker@lemmy.world to Technology@lemmy.worldEnglish · 1 month agoAI Bubble Teetering on the Brink as OpenAI Admits to Massive Financial Failure: A $20 billion setback.futurism.comexternal-linkmessage-square372linkfedilinkarrow-up1962arrow-down124
arrow-up1938arrow-down1external-linkAI Bubble Teetering on the Brink as OpenAI Admits to Massive Financial Failure: A $20 billion setback.futurism.comeicker@lemmy.world to Technology@lemmy.worldEnglish · 1 month agomessage-square372linkfedilink
minus-squarelikebudda@reddthat.comlinkfedilinkEnglisharrow-up12·1 month agoIt’s not annualized in the traditional sense. They take their highest revenue day and multiply it by 365.
minus-squareKaiFeng@lemmy.worldlinkfedilinkEnglisharrow-up6·1 month agoThat… Doesn’t make sense does it? Like apart from fraud what’s the point of doing it like that?
minus-squareCrimeIsLegalNow@ani.sociallinkfedilinkEnglisharrow-up5·1 month agoOh, it’s absolutely a fraud meant to deceive investors. Just not legally speaking.
minus-squareredballooon@lemmy.worldlinkfedilinkEnglisharrow-up1·1 month agoBut the $70b number was published by an investor, and OpenAIs crime was to not disagree publicly. Makes me wonder who is frauding whom. I won’t pretend to understand this news.
minus-squarephutatorius@lemmy.ziplinkfedilinkEnglisharrow-up1·1 month agoThey need to pull a big number from where the sun don’t shine.
minus-squareeestileib@sh.itjust.workslinkfedilinkEnglisharrow-up3·1 month agoWe don’t even know their calculation. It’s just a number they present without context.
It’s not annualized in the traditional sense. They take their highest revenue day and multiply it by 365.
That… Doesn’t make sense does it? Like apart from fraud what’s the point of doing it like that?
Oh, it’s absolutely a fraud meant to deceive investors.
Just not legally speaking.
But the $70b number was published by an investor, and OpenAIs crime was to not disagree publicly. Makes me wonder who is frauding whom.
I won’t pretend to understand this news.
They need to pull a big number from where the sun don’t shine.
We don’t even know their calculation. It’s just a number they present without context.