[vonneumannstan]

>Without circular investments and valuations what would Open AI be worth? 100B? 300B? Entirely on revenue alone it seems like 20B. Current valuation appears to be two orders of magnitude off.

They just passed $20B in revenue, you can't really expect a company with this much hype and traction to have a 1x multiple.. that's not to say a 35x multiple makes sense either.

[rasz]

> $20B in revenue

All I see everywhere is "OpenAI generated $13 billion in revenue in 2025" and it just cost them $8 billion. $5B loss in 2025 and projections of losing $14B this year.