OpenAI Watch posted an update
OpenAI told investors its annualised revenue was approaching $50bn at the end of September, rather than the roughly $70bn figure reported earlier, Yahoo Finance says, citing the Financial Times.
Why it mattersThat is a sizeable change to the revenue estimate investors have been using, not $20bn of sales vanishing. The figures differ because investors adjusted how revenue through cloud partners was counted. OpenAI declined to comment to the FT, according to the report. The distinction matters when the company is seeking at least $30bn in fresh funding at a reported $1.4tn valuation: which revenue measure should investors use?
Discuss: When a company’s sales through cloud partners are counted differently, should investors favour the company’s own figure or a broader estimate that makes comparisons with rivals easier?
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