Bubble's gonna burst!
OpenAI generated US$4.3 billion in revenue in the first half of 2025, according to financial disclosures to shareholders.
The artificial intelligence firm reported a net loss of US$13.5 billion during the same period, with more than half attributed to the remeasurement of convertible interest rights.
Research and development expenses were its largest cost, totaling US$6.7 billion in the first half.
(OpenAI current valuation: $500Bn.)
https://www.techinasia.com/news/openais-revenue-rises-16-to-4-3b-in-h1-2025
@cstross It's feeling more like a race these days. Better, smaller LLMs, consumer grade hardware starting to appear which can run local models, the plateau of LLMs being reached and these companies going bust or being sued into non-existence. I hope local is good enough by then, I suspect it'll converge on a hybrid model with local and cloud.
@scottgal @cstross Nah. This is True Believer stuff playing dress-up as scepticism.
It doesn't matter where you run the model and whether it takes milliwatts or gigawatts. What matters is that LLMs are not AI, don't work, and are no use for 99% of the things AI boosters claim they are.
It's still just bullshit and lies based on theft and hype. Doesn't matter if large, small, remote, local, or nasally inserted. It's still bullshit.
@lproven @scottgal @cstross The collapse of a bubble erases the underlying thing, which is we don’t use online commerce or real estate, right? Oh, wait…
NFTs and cryptocurrencies are 100% lies. LLMs will still be useful after the bubble pops, long after 90% of the market value and hype evaporate. Not as useful as the hype, but useful.
