Ather Energy’s Tarun Mehta expressed confidence on Sunday that OpenAI will manage its situation, in response to a report forecasting potential bankruptcy for the AI research lab in the coming year. The report cited significant daily expenditures, notably around $700,000 (approximately ₹5.8 crore), dedicated solely to one of its groundbreaking products: the innovative ChatGPT.
In further elaboration, he noted that many Indian startups have experienced similar capital consumption during their peak periods, and quite a few of them have managed to remain stable and Uber, during its prime, was using ten times the capital for an extended duration.
Additionally, OpenAI stands as one of the most pivotal startups in recent years, boasting a substantial $10 billion funding pipeline, adds Mehta. He confidently concluded, “Rest assured, they will manage the situation, folks.”
To recall, as per the report from Analytics India Magazine, the AI firm headquartered in San Francisco could be facing a potential financial dilemma, potentially leading to bankruptcy by the conclusion of 2024.
OpenAI is currently experiencing a cash depletion, and despite endeavors to monetize GPT-3.5 and GPT-4, the study highlighted.
It also pointed out that the company has not achieved sufficient revenue to reach a break-even point and a progressive decrease in the user community of ChatGPT in recent months was witnessed.
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Updated: 14 Aug 2023, 04:43 PM IST