OpenAI could lose $5 billion this year, report claims

A new report from The Information, based on undisclosed financial information, claims OpenAI could lose up to $5 billion due to how costly the business is to operate. The report also says the company could spend as much as $7 billion in 2024 to train and operate ChatGPT.

OpenAI unveils GPT-4o mini

OpenAI released its latest small AI model, GPT-4o mini. The company says GPT-4o mini, which is cheaper and faster than OpenAI’s current AI models, outperforms industry leading small AI models on reasoning tasks involving text and vision. GPT-4o mini will replace GPT-3.5 Turbo as the smallest model OpenAI offers.