Is ChatGPT’s Parent Company OpenAI Facing Bankruptcy?

ChatGPT maker OpenAI may go bankrupt by the end of 2024 if it doesn’t arrange more funding soon, reported Analytics India Magazine.

The report cited that there is a decline in the number of users of the ChatGPT website in the first six months of 2023.

The users declined to 1.5 billion in July from 1.7 billion in June and 1.9 billion in May. But the data doesn’t include the ChatGPT mobile app.

Meanwhile, OpenAI’s losses have doubled to around $540 million by the end of last year, according to a report by The Information.

ChatGPT has to invest a whopping $7,00,000 (Rs 5.80 crore) per day for its operation.

According to Investopedia, OpenAI cannot enter the IPO market because it takes at least 10 years of operation and $100 million in revenue for an IPO to be successful.