posted in Technology
AI Bubble Teetering on the Brink as OpenAI Admits to Massive Financial Failure: A $20 billion setback.
futurism.com/future-society/ai-financial-bubble-openai-billions-failure
Replying to @eicker@lemmy.world
The $20B difference is based on an accounting fraud. $50B vs $70B is like if GM would count the total of what buyers pay for cars ($70B) instead of their real revenue ($50B) of what their dealers pay them. Monumental fraudster BS came out overnight to resume the bubble frenzy though.
Replying to @humanspiral@lemmy.ca
What are you talking about? The 20 billion difference is based on a “leaked internal memo” that suggested annual revenue of 70 billion. And a memo to investors in September that they expect a 50 billion revenue. In short. It’s based on a leaked previous estimation compared to a more recent one.