Saving the world from the AI you’re creating is expensive work. Sam Altman’s OpenAI is looking to patch its massive cash deficit with a fresh $6.5 billion from investors. [Bloomberg, archive] OpenA…
  • self@awful.systemsEnglish
    0·
    2 months ago

    This $6.5 billion round will give OpenAI an alleged “valuation” of $150 billion, up from $86 billion earlier this year.

    so pets.com had a valuation of $87 million (~$159 million adjusted for inflation) right before the market crashed, and that shit’s so radioactive capitalists still use it as an example of a shitty bubble business that never should have been valued that high cause who in their right mind thinks pet stuff online’s worth that much?

    this next crash is going to be a fucking doozy isn’t it

    • burble@lemmy.dbzer0.comEnglish
      0·
      2 months ago

      But but but the VCs and PE firms have a thesis or something!

      I hope all these ghouls lose their shirts.