Last Thursday, OpenAI CEO Sam Altman told reporters at a private dinner that investors are overexcited about AI models. "Someone" will lose a "phenomenal amount of money," he said, according to The Verge. The statement came as his company negotiates a secondary share sale at a $500 billion valuation—up from $300 billion just months earlier.
"Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes," Altman told the journalists, comparing the current market to the dot-com crash of the 1990s. Wired reported that he also predicted his company will spend "trillions of dollars on data center construction in the not very distant future" and that ChatGPT will soon serve "billions of people a day."
For context, Facebook serves about 3 billion monthly active users. Altman's projection would require ChatGPT to reach nearly half the world's population as daily users (not monthly, like Facebook), which is an extraordinarily optimistic outlook.
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