AI can't be allowed to become too big to fail [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
Last week, an unlisted private American company that recorded a $12bn (£9.6bn) loss in its last quarter asked the US Government for help. That's quite audacious. Loss-making companies usually wait until after they're on the brink before tapping up the taxpayer, but ChatGPT maker OpenAI is getting its request in early. Unsurprisingly, the backlash was brutal. “A company that hasn't yet turned a profit is now being described as too big to fail due to it being interwoven with the big tech giants,” wrote Florida governor Ron DeSantis. Sensing the mood, the White House's AI tsar, the venture capitalist David Sacks, declared: “There will be no federal bailout for AI. The US has at least five major frontier model companies. If one fails, others will take its place”. And that's how it should be. OpenAI's problem is not a lack of interest. ChatGPT receives about six billion visits a month, and almost one billion people use it regularly Given such an audience, you might think one
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