The reality is that both of these companies do not have a scalable business model and even the dumb money has figured that out
They’re raising at $1T, which makes them one of the planet’s largest companies and they’ve only been around for a short time, comparatively.
Yes, there was noise about possibly higher valuations still, but the [edit: private] market definitely thinks there is a $1T business model here.
Does anyone see the path to ROI here? There is clearly a profitable business model within these big AI labs, but it’s held captive by messianic 90-page IPO risk statements. I know they want to sell restricted access to the more capable models but the market for those kind of professional services doesn’t even exist yet.
Replacing all work where someone sits exclusivly behind a screen.