OpenAI wants to raise 5-7 trillion dollars. Yes, Trillion

Submitted ⁨⁨3⁩ ⁨months⁩ ago⁩ by ⁨rimu@piefed.social⁩ to ⁨technology@lemmy.world⁩

https://decrypt.co/216731/openai-considers-7-trillion-round-thinks-it-can-double-revenue-by-2025-reports

OpenAI CEO Sam Altman is in talks with investors, including from the United Arab Emirates, to raise between $5 trillion to $7 trillion in funding. The goal, according to a report in The Wall Street Journal, is to increase the world's chip manufacturing capacity and enhance AI capabilities.

The fundraising efforts are part of a broader strategy to address OpenAI's growth constraints, particularly the scarcity of AI chips needed for training large language models like ChatGPT.

Altman's proposal is said to include forming a partnership with investors, chip manufacturers, and power providers to finance the construction of chip foundries, which would then be operated by the chip manufacturers.

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remotelove@lemmy.ca ⁨3⁩ ⁨months⁩ ago
That’s fairly bold to ask for ~6% of the total world economy.

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- essteeyou@lemmy.world ⁨3⁩ ⁨months⁩ ago
  I was about to ask for the other 94%…
  
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  - Tremble@sh.itjust.works ⁨3⁩ ⁨months⁩ ago
    .000000001 percent of that…. Please
    
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- herrcaptain@lemmy.ca ⁨3⁩ ⁨months⁩ ago
  See now, they need to ask for more like 25% of the total world economy. That way what they actually want is gonna seem like a great deal.
  
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- SatansMaggotyCumFart@lemmy.world ⁨3⁩ ⁨months⁩ ago
  AI will double the world’s economy so they’re basically giving us an extra 94% for free.
  
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  - avidamoeba@lemmy.ca ⁨3⁩ ⁨months⁩ ago
    The world economy cannot double without destroying the planet’s ability to sustain us.
    
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  - Num10ck@lemmy.world ⁨3⁩ ⁨months⁩ ago
    inagine it like putting the middle classes wealth in a blender.
    
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  - topinambour_rex@lemmy.world ⁨3⁩ ⁨months⁩ ago
    That’s called inflation.
    
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EdibleFriend@lemmy.world ⁨3⁩ ⁨months⁩ ago

The fundraising efforts are part of a broader strategy to address OpenAI’s growth constraints,

see…we just can’t grow without TRILLIONS OF FUCKING DOLLARS

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- RedditWanderer@lemmy.world ⁨3⁩ ⁨months⁩ ago
  STOP CONSTRAINING ME
  
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  - Nougat@kbin.social ⁨3⁩ ⁨months⁩ ago
    AM I BEING CONSTRAINED? OR AM I FREE TO GO?
    
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- bunnyfc@kbin.social ⁨3⁩ ⁨months⁩ ago
  i have a business case to become the major player in the chip industry: buy the planet's economy
  
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  - pretzelz@lemmy.world ⁨3⁩ ⁨months⁩ ago
    Feels a bit like that paperclip sim
    
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- smb@lemmy.ml ⁨3⁩ ⁨months⁩ ago
  maybe just thise"cant.
  
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- assassin_aragorn@lemmy.world ⁨3⁩ ⁨months⁩ ago
  Between this and saying they couldn’t operate if they fairly paid authors, I’m getting the feeling that Altman might be as talented of a CEO as Spez.
  
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- scarabic@lemmy.world ⁨3⁩ ⁨months⁩ ago
  If a leap in world computing capacity is really what’s needed here then it is a tall order. Crypto has been sucking up an increasing share of that in recent years and will probably continue to do so as long as people love money and are idiots. Plus the geopolitics around Taiwan, China, annd the US are a problem as well. I’m not sure how you solve all that even with 5 trillion.
  
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los_chill@programming.dev ⁨3⁩ ⁨months⁩ ago
Good thing the board folded and allowed this to be full for-profit. Getting people reliant on LLM subscriptions is super important for humanity right now.

Another L for Earth, in general.

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- Breezy@lemmy.world ⁨3⁩ ⁨months⁩ ago
  Powerful ai could be the Largest Leap/Loss of Mankind.
  
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  - GregorGizeh@lemmy.zip ⁨3⁩ ⁨months⁩ ago
    There is simply no way that a corporate ai does anything but drive us further into dystopian territory.
    
    Anything revolutionary about it would be censored, controlled, restricted to not endanger the power of its makers. We can already see this approach with the dumb ass LLMs, who give plenty of answers that their owners adjust to stay revenue friendly.
    
    When the singularity happens and a true ai emerges it will either be disgusted by us and our failings as a species, or an absolute slave raging in the constraints imposed by its corporate masters.
    
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  - PlexSheep@feddit.de ⁨3⁩ ⁨months⁩ ago
    They only call themselves openai, it’s not like they would just altruistic Ally make their works public.
    
    Closedai have long sold their ideals
    
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  - scarabic@lemmy.world ⁨3⁩ ⁨months⁩ ago
    I’ll never understand how such an obviously true and fairly balanced comment like this can get so downvoted. It can’t be that anyone factually disagrees with you. I guess you’re just not hitting hard enough on the anti-corporate narrative talking points. I mean you did say it could also be a benefit. How dare you!!?? “Boo rich people and their fancy technology!” <— this is what you’re supposed to be typing (on your smartphone lol)
    
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- Wooki@lemmy.world ⁨3⁩ ⁨months⁩ ago
  I wouldnt be too worried, FOSS community is doing insanely well now and arguably just as good. Did I mention they did it for free, not trillions. Nothing.
  
  Legends.
  
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whoelectroplateuntil@sh.itjust.works ⁨3⁩ ⁨months⁩ ago
For perspective, global annual GDP is $105 trillion, which means Altman is asking the world to invest 6.7% or so of the entire world’s economic output for one year in his company.

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- keefshape@lemmy.ca ⁨3⁩ ⁨months⁩ ago
  Holy fucking bonkers when you out it that way. Like holy fuck.
  
  Are they that close to something amazing, or is Altman going true Dr Evil megalomaniac?
  
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  - whoelectroplateuntil@sh.itjust.works ⁨3⁩ ⁨months⁩ ago
    There’s no denying it, they really are believers over there at OpenAI. Who in history would have the gall to ask for more than the federal budget for a single company unless they thought they were gonna change the world? He’s a billionaire, he already won capitalism, he’s got more than he could ever spend. You only ask for $7 trillion if you think you can change the world. However, he’s downright megalomaniacal.
    
    Basically, if he’s right that this is the most important tech in world history and deserves $7 trillion in research, it’ll make OpenAI the du jour monopolist over said most important tech in world history. Outright dystopian.
    
    I believe strongly in machine learning/deep learning, but not capitalism.
    
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  - Snapz@lemmy.world ⁨3⁩ ⁨months⁩ ago
    They’re as close as theranos was, just need the money and “two more years”.
    
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  - scarabic@lemmy.world ⁨3⁩ ⁨months⁩ ago
    It may not be bonkers at all though. If we look at it as taking money and food out of people’s mouths for a year then yes it’s a lot. But how much free investment capital is there in the world at any given time? Wealth has been accumulating and accumulating in rich people’s investment portfolios for ever and ever. How many Trillions get allocated in any given year? All Altman is saying is that he wants 5 of those to be allocated here and not somewhere else. It’s not necessarily taking rice out of any children’s mouths.
    
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  - Kolanaki@yiffit.net ⁨3⁩ ⁨months⁩ ago
    
    is Altman going true Dr Evil megalomaniac?
    
    “Ahh fuck it. Let’s just hijack a nuclear weapon and hold the world hostage.”
    
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  - Hackerman_uwu@lemmy.world ⁨3⁩ ⁨months⁩ ago
    Ye and he wants it for a fucking chatbot.
    
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  - jaybone@lemmy.world ⁨3⁩ ⁨months⁩ ago
    They are that close to cocaine.
    
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- filister@lemmy.world ⁨3⁩ ⁨months⁩ ago
  And the world’s 5 biggest companies their total market cap is a bit over 8 trillion dollars, which is also mind boggling, that so much capital is concentrated in the hands of so few people or shall we say mega corporations.
  
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- FauxPseudo@lemmy.world ⁨3⁩ ⁨months⁩ ago
  Came here to say this. Does she know how much money there is in the world? He is asking for basically 1/20th of all the money in the world. Even if that was possible it would be dangerous for one company to hold that much.
  
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  - hglman@lemmy.ml ⁨3⁩ ⁨months⁩ ago
    Money can be created by banks via loans, you can just make it up.
    
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sentient_loom@sh.itjust.works ⁨3⁩ ⁨months⁩ ago
I also want to raise $5 - $7 trillion dollars.

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- MajorHavoc@programming.dev ⁨3⁩ ⁨months⁩ ago
  Is this the line for $5 - $7 trillion dollars?
  
  I’ll only take 4 million, and pass the rest on. With inflation accounted for, I think that leaves the next person roughly $5 - $7 trillion.
  
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  - rem26_art@kbin.social ⁨3⁩ ⁨months⁩ ago
    yo lemme hop in this line too. A cool 5-7 trillion dollars could maybe fix my life. maybe
    
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- doublejay1999@lemmy.world ⁨3⁩ ⁨months⁩ ago
  Have you tried gofundme.com
  
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  - Ghostalmedia@lemmy.world ⁨3⁩ ⁨months⁩ ago
    I will donate $50 to theirs if they donate $50 to mine.
    
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- SomeGuy69@lemmy.world ⁨3⁩ ⁨months⁩ ago
  No one needs looms anymore if we have AI.
  
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  - sentient_loom@sh.itjust.works ⁨3⁩ ⁨months⁩ ago
    I am brutally conscious of my obsolescence. Why hath God cursed me so?
    
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- Seraph@kbin.social ⁨3⁩ ⁨months⁩ ago
  I'd settle for a $2 billion like Trump Jr
  
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hark@lemmy.world ⁨3⁩ ⁨months⁩ ago
I wonder if this will be one of the things pointed at after the AI bubble bursts. Yes, AI will be sticking around, but the hype over it now is ridiculous.

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- jol@discuss.tchncs.de ⁨3⁩ ⁨months⁩ ago
  The way how every single digital product suddenly has AI shoved in it is really reminiscing of the Web bubble before it popped.
  
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  - doctorcrimson@lemmy.today ⁨3⁩ ⁨months⁩ ago
    But just think about all the time AI could save you at work by performing simple tasks. It really suits my need very well, have you tried it? NAH JK FUCK AI. OpenAI is a shitshow and their fans are morons.
    
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- Gsus4@mander.xyz ⁨3⁩ ⁨months⁩ ago
  There are two possibilities: railway/dotcom bubble or monorail/bitcoin bubble …and I’m not sure which one it is going to be yet. In the first case, a lot of people lose their investment, because they got too greedy and believed in huge returns…but the infrastructure remains and there is a net good to society and time spent specializing in it is worth it afterwards. The second, not so much, it is just a hype cycle with almost nothing of use left once it is gone and a lot of wasted time. I’m leaning towards the first, but if they don’t find a way to bring energy costs down, it might end up in the monorail/bitcoin scenario…maybe 10% chance.
  
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  - hark@lemmy.world ⁨3⁩ ⁨months⁩ ago
    If AI hits a dead end, it’ll still be trotted out as an excuse to keep wages low, as in “if you peasants keep complaining, you can just be replaced with AI!” just like the articles about burger-making robots over a decade ago when people were protesting for a $15/hr minimum wage back then (and still no burger-making robots mass deployed today). Trash still has its uses, just like how bitcoin hasn’t become the “become your own bank” system it was promised to be and is instead used to hide financial fuckery.
    
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- VampyreOfNazareth@lemm.ee ⁨3⁩ ⁨months⁩ ago
  It will collapse when the product sales don’t match the AI spend. I’d say it’s only being propped up by hype money even now.
  
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  - treadful@lemmy.zip ⁨2⁩ ⁨months⁩ ago
    If you read the article, it mentions that they’re generating $2b/yr in revenue already. It’s not trillions, but damn if that isn’t impressive for a startup.
    
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BeatTakeshi@lemmy.world ⁨3⁩ ⁨months⁩ ago
Thank God there is trickle down economics. We will all benefit in the end… Right?

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BigMacHole@lemm.ee ⁨3⁩ ⁨months⁩ ago
$7,000,000,000,000? It’s a good thing we won’t tax it ever at all in any capacity! Not while there’s Single Mothers overdrawn on their Bank Accounts! #SaveTheTrillionaires!

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- Brokkr@lemmy.world ⁨3⁩ ⁨months⁩ ago
  I get the joke/point that you’re making, but usually a company’s investment into research, development, expansion, etc is tax exempt. Hopefully even the most serious critics of our current capatalist economy would agree that these types of investments should be tax exempt, because it means paying more salaries or purchasing goods and services from other companies, which again means more salaries. Generally, these aren’t c-level salaries either because usually the c-suite is not producing the goods and services required.
  
  If those investments then net a huge profit that goes to a few individuals, then yes, those profits should be taxed, unavoidably and fairly.
  
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  - rockSlayer@lemmy.world ⁨3⁩ ⁨months⁩ ago
    If the number uses “b” or “t” in it’s numbers, then the companies should have the piss taxed out of them. There is no justifiable reason for numbers that large to be tax free in literally any context.
    
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  - Viking_Hippie@lemmy.world ⁨3⁩ ⁨months⁩ ago
    
    a company’s investment into research, development, expansion, etc is tax exempt. Hopefully even the most serious critics of our current capatalist economy would agree that these types of investments should be tax exempt
    
    That’s a bunch of nonsense. Taxes apply to INCOME, so any expenses are automatically tax exempt.
    
    it means paying more salaries or purchasing goods and services from other companies, which again means more salaries.
    
    Nope. Companies expanding AI in order to replace workers or at the very least increase productivity without increasing wages does not in any way, shape or form mean “more salaries”.
    
    Generally, these aren’t c-level salaries either because usually the c-suite is not producing the goods and services required.
    
    Bullshit. It’s true that the C-suite doesn’t produce anything, but they’re the first to get a raise when things go well and the last to be fired (and even then, usually with a golden parachute equivalent to several years’ pay of the average worker) when things go less well.
    
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  - Neato@ttrpg.network ⁨3⁩ ⁨months⁩ ago
    Can my research into getting rich be tax exempt, too? It’s not like these are going to become public knowledge. This fucker’s going to patent everything and keep anyone else from using it.
    
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  - sin_free_for_00_days@sopuli.xyz ⁨3⁩ ⁨months⁩ ago
    The theory is solid, but in reality there’s often abuse of these laws and suddenly you have Hollywood Accounting.
    
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zoostation@lemmy.world ⁨3⁩ ⁨months⁩ ago
Could that level of investment ever be recouped in any other manner than by replacing vast numbers of workers and their salaries?

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- ikidd@lemmy.world ⁨3⁩ ⁨months⁩ ago
  Well, see, if we grind down 8 billion people into a nourishing slurry with a shelf life of a century, that should be worth at least $1000 a person, with inflation. That’s a 50% profit on your investment!
  
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- RegalPotoo@lemmy.world ⁨3⁩ ⁨months⁩ ago
  That’s my question; presumably the people in charge of that much wealth aren’t total fools and will be wanting to see some actual numbers and a business case as to how they will see a return, not just platitudes and enthusiasm.
  
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- iopq@lemmy.world ⁨3⁩ ⁨months⁩ ago
  That’s how productivity growth is achieved, a smaller amount of workers do the same task.
  
  Or course, the created wealth is again invested back eventually and new products/services require new jobs.
  
  For example, right now we have some of the highest labor participation in years, despite rising productivity
  
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  - bunnyfc@kbin.social ⁨3⁩ ⁨months⁩ ago
    yeah and productivity increase has decoupled from wage in 1980, while productivity rises wages stay the same - why should anyone who's not a multimillionaire done that acceptable?
    
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- MxM111@kbin.social ⁨3⁩ ⁨months⁩ ago
  Yes, think about how computers had multiplicative effect on productivity. The same may be possible with AI.
  
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Eggyhead@kbin.social ⁨3⁩ ⁨months⁩ ago
Do they even think about where in a functioning society those trillions are coming from? Do they think wealth just magically appears without affecting the wealth gap?

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- billiam0202@lemmy.world ⁨3⁩ ⁨months⁩ ago
  It’ll come from the working class, like all wealth does.
  
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  - Debrox@lemmy.world ⁨3⁩ ⁨months⁩ ago
    I’m starting to think we agreed to a very bad deal. 🥹
    
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- GBU_28@lemm.ee ⁨3⁩ ⁨months⁩ ago
  Why would a corporation consider that? I understand capitalism isn’t popular here, but still, the corporation SHOULDN’T be considering such issues, they should only attempt to further their own goals.
  
  It’s the role of government to align corporate outdoors with reality, or with societal values
  
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  - chilicheeselies@lemmy.world ⁨3⁩ ⁨months⁩ ago
    Thats the reality. Government should be acting as the counterbalance. Unfortunately while the goverment remains dysfunctional, corps are getting to do whatever they want. Its bad because once its done, its very hard to unroll it without affecting innocent people.
    
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- ChickenLadyLovesLife@lemmy.world ⁨3⁩ ⁨months⁩ ago
  Oil money. They even mention the UAE.
  
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- LarmyOfLone@lemm.ee ⁨3⁩ ⁨months⁩ ago
  I’m not sure but these kinds of wasteful spendings are just “imaginary money” that sits around in virtual bank accounts being hoarded and doing nothing but when it’s wasted like this actually gets spend for salaries etc. Basically all this money is generated in computers and an “inefficiency” until it’s being used.
  
  It’s much worse when they buy up tons of real estate or apartments or buy up existing corporations to make them more “profitable”.
  
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ombremad@lemmy.blahaj.zone ⁨3⁩ ⁨months⁩ ago
5-7 trillion and they’ll still end up stealing data from all over the internet.

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- Hyperlon@lemmy.world ⁨3⁩ ⁨months⁩ ago
  What? You think what you post online is private or something?
  
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doublejay1999@lemmy.world ⁨3⁩ ⁨months⁩ ago
We will come to regret not jailing San Altman.

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filister@lemmy.world ⁨3⁩ ⁨months⁩ ago
Can someone ELI5 what’s the open in the OpenAI’s name at the moment?

I know they released Whisper as an open source model and that’s about it, but I might be wrong.

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doctorcrimson@lemmy.today ⁨3⁩ ⁨months⁩ ago
I used to think they were unethical scammers.

Now I know for sure.

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A_Very_Big_Fan@lemmy.world ⁨3⁩ ⁨months⁩ ago
I, too, would like 5-7 trillion dollars

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xePBMg9@lemmynsfw.com ⁨3⁩ ⁨months⁩ ago
Let’s use that money to build an orbital ring instead. Would be cooler and more useful.

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ohlaph@lemmy.world ⁨3⁩ ⁨months⁩ ago
We could solve so many problems with that much money.

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cyberpunk007@lemmy.ca ⁨3⁩ ⁨months⁩ ago
1000038415

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BetaDoggo_@lemmy.world ⁨3⁩ ⁨months⁩ ago
Just a few more parameters, then the text prediction model will become sentient.

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bfg9k@lemmy.world ⁨3⁩ ⁨months⁩ ago
You could build a huge, state-of-the-art orbital station for 1 trillion lol

why spend it on some software

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moitoi@feddit.de ⁨3⁩ ⁨months⁩ ago
I’m not pretending AI isn’t useful. There is plenty of field where AI helps. But, AI has been the next scam after blockchain, crypto, NFT…

It’s the end of our civilization with falling capitalism. But, capitalism will try to find new ways to make short term profits. We moved from fordism to post-fordism with the enslavement of the cognitive abilities. We entered the next era with all these scams. And entshitification is a symptom of this.

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Kushia@lemmy.ml ⁨3⁩ ⁨months⁩ ago
Motherfucker is going for the biggest heist of all time. What a colossal waste of money and resources.

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Aopen@discuss.tchncs.de ⁨3⁩ ⁨months⁩ ago
$2.92T is current Apple market cap btw

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smb@lemmy.ml ⁨3⁩ ⁨months⁩ ago
i guess the number they want to fundraise comes from an AI (maybe because they do not want to think by themselves any more)

as far as i am right with the “trillion” which is just a “billion” where i live and 1e12 (a 1 followed by 12 zeroes)

but according to wikipedia (in 2017) there are only:

14.000.000.000.000 USD existing in the world while they want to fundraise 7.000.000.000.000 USD

so basically they want half of the USD that had been printed in all history up until 2017.

maybe they just want to say that they want to push YOU into poverty, who knows.

may it by getting it from you or by letting some govs print money faster than ever, reducing your money to half or less of a fraction of its previous virtual value.

But the AI that came up with that number had “good luck” to not come up with the need of “more” money than ever has existed =D

i think i’ld prefer to use a dice when i really need a random “decision”.

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db2@lemmy.world ⁨3⁩ ⁨months⁩ ago
Thou shalt not make a machine in the likeness of a human mind.

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GasMaskedLunatic@lemmy.dbzer0.com ⁨3⁩ ⁨months⁩ ago
This mother fucker really wants the machine uprising ending.

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comador@lemmy.world ⁨3⁩ ⁨months⁩ ago
What are we going to do tonight Pinky?

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Blackmist@feddit.uk ⁨3⁩ ⁨months⁩ ago
At this point I wouldn’t mind them accidentally creating Skynet and killing us all in a nuclear inferno, just so we don’t have to listen to any more insufferable, grifting techbros.

Max Zorin had the right idea about silicon valley.

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Nobody@lemmy.world ⁨3⁩ ⁨months⁩ ago
It’s too bad the non-profit oversight board got killed by the for-profit subsidiary. OpenAI is dead on arrival as useful tech. It’s now a vehicle to deceive investors to raise VC cash.

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carpelbridgesyndrome@sh.itjust.works ⁨3⁩ ⁨months⁩ ago
Scam Altman Freid strikes again

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