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OpenAI IPO will not happen in 2026 amid AI safety fears, Sam Altman says (www.theguardian.com)

submitted 1 week ago* (last edited 1 week ago) by supersquirrel@lemmy.ca to c/FuckTheUSA@lemmy.ca

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[–] brackled@lemmy.world 32 points 1 week ago (1 children)

How convenient. The circular financing is starting to hit its breaking point and all of a sudden all these companies that were praising "AI" decide to stock fear and use that as an excuse to push IPO off further. Going to IPO would have meant revealing to the world the pile of cash they have been setting on fire.

[–] halcyoncmdr@piefed.social 17 points 1 week ago (1 children)

No the IPO is the goal. They cash out and leave while it's at peak value. They need it to stabilize a bit though to allow that to happen.

[–] Rothe@piefed.social 10 points 1 week ago* (last edited 1 week ago) (1 children)

That is indeed a common scam, but not in the case of OpenAI. The moment their finances are made public their "peak value" will be too shitty for anybody to cash out on.

They will also never be able to "stabilise" anything. They owe hundreds of billions, with multiple loans coming due early next year, and they aren't able to pay any of it off. So they are running out of time.

[–] kent_eh@lemmy.ca 6 points 1 week ago (1 children)

The moment their finances are made public their "peak value" will be too shitty for anybody to cash out on.

There will always be "I'm smarter than everyone else" investors willing to gamble that they'll be able to find a safe seat when the music stops.

[–] Smaile@lemmy.ca 1 points 1 week ago* (last edited 1 week ago)

I think those types are already in and everyone's else is to broke to pump the insiders out, I think they're pinched, well hopefully they are at least.