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
This is the first major real sign of the bubble popping. An actual verified report from the Financial Times regarding massive drop in revenue expectations, rather than just people hoping it pops.
Replying to @jaykrown@lemmy.world
massive drop in revenue expectations
This is still future predictions.
The pop happens when the bonds cannot be repaid.
On September 21st OpenAIs sponsor, BB+ issuer Softbank, placed an $11 billion single bond sale to fund an AI infrastructure bet, and it was oversubscribed.
The bubble is still inflating.