ChatGPT’s developer company may go bankrupt in 2024: OpenAI spending ₹5.80 crores daily; Increasing loss due to non-receipt of revenue.
OpenAI, the company that developed ChatGPT, may go bankrupt next year. Analytics India Magazine claimed in a report that the company is spending $ 7 lakh i.e. around ₹ 5.80 crore every day to run ChatGPT.
The report states that OpenAI is rapidly reducing its financial resources, but even after launching paid services for GPT-3.5 and GPT-4, the company is unable to generate enough revenue to cover its costs. Could
Microsoft-backed company
According to the report, the company is probably surviving at this time only because of Microsoft’s investment of $10 billion i.e. about Rs 83,000 crore in OpenAI. OpenAI has estimated an annual revenue of $ 200 million in 2023, or about Rs 1660 crore. In 2024, the revenue is expected to reach $ 1 billion i.e. around 8200 crores.
However, it doesn’t seem possible to reach this revenue in the current situation in the company.
Company’s loss doubled
OpenAI launched ChatGPT in November 2022. Since then till May 2023, the company has incurred a loss of $540 million i.e. around ₹4479 crore. At the same time, a decline is also being seen in the users of ChatGPT. ChatGPT users have seen a 12% decline in July 2023 as compared to June. There were 1.7 billion users in July which has come down to 1.5 billion.