Clay Magouyrk, the company's co-CEO, told the audience at Oracle's AI World conference in Las Vegas that OpenAI can "of course" cover its payments, citing ChatGPT's 800 million weekly active users as evidence of OpenAI's own growth. That's a confident answer. It isn't a guarantee, and it isn't backed by anything OpenAI has disclosed about its own balance sheet.
Link: https://startupfortune.com/sps-downgrade-leaves-oracle-financing-openais-bet-years-before-it-pays-off/
@s5 LOL, awesome! AI ROCKS!!
That's interesting, because Oracle AI World won't be held in Las Vegas until October 25th to 28th, so either the OP is a time traveller or they're linking to AI slop.
Q:
Is that the same Clay who dumped about $10M in Oracle stock last year?
Just checking.
Hiring is a mess like someone threw a stink bo-b in the middle of a party!
Most in hiring positions are clueless. They're either drinking the AI Kool-Aid and want everyone to be able to do everything or they have vague outcomes in mind and are looking for someone to figure it all out for them. There are no such candidates. Those who are getting jobs right now are bluffing their way with jargon, not real substance.
If you are not sending the CVs out your family also could have financial hardships. The job market is getting harder by months, and negotiating power is less if you get laid off.
What a piece of clay!
@a9
Problem is, there is more than 1 Enron this time. Let's start with
Nvidia
Oracle
CoreWeave
OpenAi
Anthropic
Every AI-based app vendor
Then there's all that capital investment by the big guys, Msft, Google, Amazon, and all the massive debt that they took on. This this is way, WAY worse than .com, Enron, and '08 combined.
Buckle up!
heehee!
800 million mostly free users…
Oracle is the next Enron. That 600 billion backlog isn’t real money. It’s the same money circulating amongst all the big AI players. It’s already starting to unravel and cause the AI crash.
Chapter 11 incoming..or Fed takeover and then absorbed into some other entity.
Oracle is too big to fail and has too many Federal contracts, but it’s going to be a wild ride in the next 12 mths.
The data centers aren’t coming online on schedule and OpenAi hasn’t got the cash to pay Oracle’s bills.
Larry is also over leveraged with Skydance.
The dot com crash will look like a fairy tale compared to what’s coming.
SamA told him to get his act together! Clay risks spoiling it for all.
Hakuna Matata