OpenAI leans toward waiting until next year for IPO

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• Hacker News
• OpenAI is in deep trouble is what I am reading into this
  by outside1234
• “A bird in the hand is worth two in the bush” as the saying goes.

  Maybe they will show major Ad revenue and Codex sales and get a higher price next year but it’s a risk.

  by fsuts
• They realised their numbers are much worse than anthropics
  by Havoc
• Maybe they want a Mythos level model first.
  by koolala
• With all the uncertainty about AI regulation, I don't think now is the time.

  How do you even value a company when we don't even know if GPT-6 will be made available to the general public?

  by draginol
• AI exits in America probably have a political cliff approaching fast as populist backlash will hit them, or perhaps they see political winds favorable to regulatory capture in the future and are waiting for that?
  by int32_64
• The window has basically closed for them for the time being. The business math just isn’t there.

  The best option at this point is kick the can down the road and hope market sentiment improves next year. Not much signal that it will, and quite a lot of signal the sentiment only declines, but pumping the brakes is the least worst option on the table.

  by cmiles8
• Part of the issue is the respective positioning:

  - OpenAI wants to be the consumer version of AI, modeled after Google and Meta, with a mostly free universal service powered by ads and e-commerce. They haven't fully shown that model can work. The big problem is the lack of zero marginal costs as each new user requires GPU spend.

  - Anthropic positions itself more as enterprise AI, modeled after Microsoft ironically enough, and charges big companies for services. The economics of coding agents work but GPUs get expensive fast and open models are getting good enough for most use cases.

  So it's a race between ads and e-commerce offsetting AI spend and open source eating almost everyone's lunch.

  by light_triad