ChatGPT costs over Rs 5.80 crore per day, maker OpenAI could go bankrupt by 2024
By Team Newsable | First Published Aug 13, 2023, 11:49 AM ISTOpenAI CEO Sam Altman may find himself on the brink of a potential financial crisis. The ChatGPT costing OpenAI around $700,000 (Rs 5.80 crore) per day. The company has also seen a gradual decline in user engagement over recent months.
OpenAI's ChatGPT became the fastest-growing app after its launch in November 2022. Since its introduction, it has raised anxiety about replacing people in occupations as well as enthusiasm. According to a recent report in Analytics India Magazine, the business may file for bankruptcy by the end of 2024.
The report also included statistics indicating a drop in users on the ChatGPT website between the months of May and June. According to another report, ChatGPT traffic declined for the second consecutive month. A 9.6 percent drop was seen in the month of July while June recorded 9.7 per cent decline. Speaking of users, there were 1.5 billion in July, a 12 per cent decrease from the 1.7 billion in June.
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OpenAI reportedly spends over $700,000 (Rs 5.80 crore) every day on operating costs to run only one of its AI services, ChatGPT. As a result, OpenAI, led by Sam Altman, is quickly using up its financial resources. Despite attempts to monetize GPT-3.5 and GPT-4, the business has not yet generated enough income to meet its expenses.
Numerous companies, previously apprehensive about their employees using ChatGPT, have now begun acquiring access to OpenAI's APIs, enabling them to use AI chatbots for diverse workflows. While industry behemoths like Google and Meta are frequently seen as OpenAI's main rivals, Elon Musk and his xAI project also deserve consideration. Since ChatGPT became viral, Musk, who has long been interested in AI, especially as a result of his work with Tesla, has made important advancements in the field.
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