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cdrnsf 21 hours ago

Can't wait to see those revenue numbers.

4lx87 20 hours ago | parent | next [-]

OpenAI reported ~$20 billion annualized revenue for 2025, up from $6 billion the year before.

cdrnsf 20 hours ago | parent [-]

And that covers their model training and infrastructure costs?

spongebobstoes 20 hours ago | parent | next [-]

each new model brings in revenue that is multiple times the cost to create said model

jddj 20 hours ago | parent | next [-]

Is that the case? What about gpt 4.5? o1-pro?

spongebobstoes 20 hours ago | parent [-]

with revenue >2x cost, they can afford to have a miss now and then

jddj 20 hours ago | parent [-]

If you have a machine that reliably takes $1 and makes $2 you raise debt not equity

bdangubic 20 hours ago | parent [-]

care to elaborate? if my machine is doubling my money, why do I have to raise debt?

jddj 20 hours ago | parent [-]

Presumably there is some time component, i.e you need to use the machine quickly or risk losing it.

Also, it's better to double $2 instead of $1, and then pay back that $1.1 and end up with $2.9 instead of $2.

But it was a more facetious comment than I would have preferred to make, I actually went to delete it but you got in too quickly.

There are many reasons it's wrong, too, eg. at some level of risk debt becomes more expensive or impossible

But the intent of the comment was to say that if you owned as sure a thing as the GP proposed you'd do what you could to avoid selling parts of it.

cdrnsf 20 hours ago | parent | prev | next [-]

So their CFO's publicly voiced concerns are unwarranted?

rchaud 18 hours ago | parent [-]

The efficient market hypothesis has taken a real beating in the age of tech industry anti-gravity valuations.

m_ke 20 hours ago | parent | prev [-]

until it doesn't.

scaling laws are a power law, you can only stay ahead for so long when each minor improvement gets exponentially more expensive

downrightmike 20 hours ago | parent | prev [-]

exactly

Aboutplants 20 hours ago | parent | prev | next [-]

I’m less interested in revenue and more interested in their operational costs

aurareturn 19 hours ago | parent [-]

I'm personally interested in their growth rate more than anything else. I'm not a believer that AI can't be profitable and has no moat narrative that is popular here.

Both Altman and Dario have consistently said inference margins are high.

jmye 20 hours ago | parent | prev [-]

Agree, deeply interested in their books and then whatever report cadence we end up on next year.

I understand that a lot of people want to cash out, but I'm surprised they're ready to share, especially given I don't think they've had issues bringing in funding in the private markets, but maybe I'm wrong.

jddj 20 hours ago | parent [-]

At one point (1.5 months ago) Bloomberg posted a piece saying the private market was apparently drying up for openai due to anthropic sucking all the oxygen out of the room.

https://www.bloomberg.com/news/articles/2026-04-01/openai-de...