OpenAI's $852 billion valuation is under scrutiny from its own investors

"Some backers say OpenAI has revised its product roadmap twice in six months and risks losing focus ahead of an IPO expected as early as Q4 2026."

"The concerns centre on a period of visible strategic turbulence: OpenAI has revised its product roadmap twice in six months, first in response to competitive pressure from Google."

"One early backer of OpenAI told the FT: 'You have ChatGPT, a 1 billion-user business growing 50-100 per cent a year, what are you doing talking about enterprise and code? It's a deeply unfocused company.'"

"Chief Financial Officer Sarah Friar pointed to the $122 billion fundraise completed last month, described as the largest private round in Silicon Valley history."

OpenAI has revised its product roadmap twice in six months, raising concerns among investors about its focus and strategy. The company has dropped initiatives like the Sora video generation and an 'adult' chatbot. Investors worry that these rapid changes could make OpenAI vulnerable to competitors like Anthropic and Google. Criticism includes comparisons to Netscape, highlighting fears of losing market dominance. OpenAI's leadership defends its strategy, citing a significant recent fundraising round as evidence of continued support and confidence in its direction.

Read at TNW | Artificial-Intelligence