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Ed Zitron explains OpenAI’s leaked financials | The Tech Report - Youtube (Invidious link) (inv.nadeko.net)

submitted 2 days ago* (last edited 1 day ago) by supersquirrel@sopuli.xyz to c/techtakes@awful.systems

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“You shouldn’t be debating whether AI has ROI… you don’t get to do that anymore. You’ve burned over $1trn on this.” Author of Where Your Ed At and host of the Better Offline podcast joins The Tech Report’s Isaac Pound to dig into OpenAI’s leaked financials and how AI has hit a price wall with token-based billing. Ed's detailed breakdown of OpenAI's financials: www.wheresyoured.at/exclusive-openai-financials/

"I think it could get really weird and messy very soon" -Ed on what is going to happen as investors realize AI is toxic to profit.

Not only is AI a technology that hasn't panned out as broadly transformative or useful, it is being propped up by extremely sketchy financials at least with OpenAI.

https://www.youtube.com/watch?v=UnLRb-sU-Is

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[–] artifex@piefed.social 5 points 2 days ago (3 children)

I wouldn’t say the industry as a whole is toxic to profit. Nvidia, for one, has been almost literally minting money. And then there’s AMD. And, uh…

[–] supersquirrel@sopuli.xyz 13 points 2 days ago

Circular investments and money from other speculative bets on the same thing don't count.

[–] Architeuthis@awful.systems 4 points 2 days ago (1 children)

NVIDIA seems to be having some cashflow issues lately

[–] samvines@awful.systems 8 points 2 days ago

Another explanation that feels likely to me is that all the monorail salesmen at the big corps know the gig is nearly up so they are rushing to IPO or raise new funds (Google did the same recently) to maximise the amount of $$$ in their bugout bags as they sail off into the sunset

[–] CinnasVerses@awful.systems 2 points 2 days ago

Broadcom, Micron Technologies, and Intel too. NVIDIA is on the order of 7.5% of the S&P500 by market cap today. I would not bet real money that it will be there or above in 2029.