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OpenAI spends roughly $700,000 per day (around Rs. 5.8 crore) to run ChatGPT and Microsoft and other recent investors are covering these costs out of their own pockets. They, however, could turn off the tap if Sam Altman-led company doesn’t turn a profit soon and it may go bankrupt by the end of 2024, according to a report published in Analytics India Magazine.
“Microsoft’s $10 billion investment in OpenAI is possibly keeping the company afloat at the moment. But on the other hand, OpenAI projected an annual revenue of $200 million in 2023, and expects to reach $1 billion in 2024, which seems to be a long shot since the losses are only mounting,”the report said, and noted that in May this year, OpenAI’s losses doubled to $540 million ever since it started developing ChatGPT.
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