Economy

The development of AI
Analysis: "Open AI is more of an idea than a company"

Those who invest in Open AI at a valuation of $157 billion must be “driven by instinct rather than intelligence,” writes John Foley in the Financial Times. However, instinct can turn out to be good, he writes, and makes the comparison with Tesla, which also bled money for a long time.

“At the moment, Open AI is less of a company and more of an idea. However, it is an exciting idea".

The AI ​​company is expected to post a $5 billion loss this year. The valuation is still 13 times the expected revenue of $12 billion next year. With several competing free services, the revenue targets are set high, writes Therese Poletti in Market Watch.

"Many on Wall Street remain unconvinced that AI will provide sufficient returns on investment to justify the recent spending boom."

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Open AI is valued at 1,600 billion

Open AI takes in 6.6 billion dollars in new capital, which values ​​the company at 157 billion dollars, corresponding to roughly 1,600 billion kroner. The company says so in a press release.

The company was valued at $80 billion in February and $29 billion in 2023, according to CNBC.

The deal is one of the largest private investments ever and makes Open AI one of the three largest venture capital-funded startups in the world, alongside SpaceX and Tiktok owner Bytedance, Bloomberg reports.

Thrive Capital, Softbank, Microsoft and Nvidia participated in the round.

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Swedish companies risk being hit by a weak car industry

The crisis in the European car industry risks spreading to Swedish subcontractors, says Per Bryntesson of the industry organization FGK to TT.

Volkswagen, BMW, Stellantis and Mercedes-Benz have flagged for worse results this year than expected. For Volkswagen, it may be a question of factory closures.

- It may happen that vehicle manufacturers start to pick up production and let it take place within the company. It could affect us on the supplier side, says Bryntesson.