OpenAI Reportedly Lost $540 Million Developing ChatGPT in 2022
It’s no surprise that large AI language models are expensive business, but just how costly they are to build hasn’t been clear. As reported by The Information, we now have a glimpse behind the curtain: In OpenAI’s case, the figure totals $540 million in losses last year as the startup developed ChatGPT.
And while revenue is pacing to hit hundreds of millions per annum, expenses are set to grow, too. Specifically, the report mentions that OpenAI CEO Sam Altman may be aiming to raise up to $100 billion in the next few years to develop artificial intelligence so smart it can improve itself.
Data Acquisition and Concerns
Additionally, OpenAI is keen to acquire fresh data sets for its software, some of which aren’t on the internet at present. These data sets are a point of contention elsewhere. Companies such as Samsung are wary of their proprietary data slipping into the ChatGPT data pool, as evidenced by a recent ban on generative AI usage with company materials.
Costs and Operations
Given how massive the cost requirements are for artificial intelligence are (at least in OpenAI’s case), it begs the question whether other AI companies can maintain pace with the trendsetter.
To give deeper insight into the costs behind ChatGPT and OpenAI’s operations, back in 2020, the startup was inclined to spend up to $75 million for Google Cloud services, until Microsoft and its Azure platform became a more attractive prospect for future endeavors.
Market Performance
CALGARY — A wetter-than-expected spring has Western Canadian farmers breathing a sigh of relief, but drought remains a significant worry.
The Dow Jones Industrial Average (^DJI) closed out the last trading day of May by closing 575 points intraday. In the shortened trading week, the S&P 500 (^GSPC) fell by 0.51% while the Nasdaq Composite (^IXIC) fell 1.10% in the last four days. Market Domination Overtime's Julie Hyman reviews the day's market performances, while Yahoo Finance Senior Markets Reporter Jared Blikre breaks down the monthly performance for sectors and the three stock market averages.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.
Legal Proceedings and Trials
TALLINN, Estonia (AP) — Belarusian authorities on Friday started proceedings in a trial in absentia of 20 prominent political analysts who work with the world's biggest universities and think tanks, the latest in a yearslong crackdown on dissent in the country. The analysts, all of whom have left Belarus, are accused of conspiracy to overthrow the government and taking part in an extremist group. If convicted, they face up to 12 years in prison upon returning to the country and the seizure of their assets.
LEXINGTON, Ky. (AP) — James McCoy hit a two-run homer and drove in three runs to break out of a hitting slump and Kentucky held on for a 10-8 victory over Western Michigan on Friday in the opening game of the Wildcats' home regional.
Market Performance
CALGARY — A wetter-than-expected spring has Western Canadian farmers breathing a sigh of relief, but drought remains a significant worry.
The Dow Jones Industrial Average (^DJI) closed out the last trading day of May by closing 575 points intraday. In the shortened trading week, the S&P 500 (^GSPC) fell by 0.51% while the Nasdaq Composite (^IXIC) fell 1.10% in the last four days. Market Domination Overtime's Julie Hyman reviews the day's market performances, while Yahoo Finance Senior Markets Reporter Jared Blikre breaks down the monthly performance for sectors and the three stock market averages.
