"OpenAI expects to spend $121 billion on computing power for AI research in 2028. That means the company anticipates burning $85 billion that year, even after almost doubling sales from the prior year."
"The ranking, if it stays roughly the same, should help OpenAI and Anthropic go public. OpenAI hopes to price its IPO at $850 billion or more, while Anthropic's IPO value has been set at $380 million."
"Alphabet, owner of Google, is a money machine. At the end of the most recently reported quarter, Alphabet had cash, cash equivalents, and marketable securities of $126 billion."
OpenAI ranks first in app downloads, followed by Google's Gemini and Anthropic's Claude, with xAI's Grok at 22nd place. The competition among these companies is intense, especially as they prepare for potential IPOs. OpenAI aims for an IPO valuation of $850 billion, while Anthropic targets $380 million. Both companies face significant cash burn rates, with OpenAI expecting to spend $121 billion on AI research by 2028. Alphabet, Google's parent company, has substantial cash reserves, positioning it well for competition.
Read at 24/7 Wall St.
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