Report: OpenAI likely to go bankrupt by the end of 2024

OpenAI's ChatGPT has become the fastest-growing app in history after its launch in November 2022. Since its launch, it has created both excitement and alarm to replace human in jobs.

Now a report by Analytics India Magazine has stated that the company might go bankrupt by the end of 2024.

As per the report, when OpenAI applied for a trademark on GPT, it was seen as the downfall for the company and was also predicted that many users would eventually stop utilising the technology.

The report also stated that ChatGPT website witnessed a user decline in the month of June and July compared to May.

On 3 August, SimilarWeb stated that the AI bot traffic dipped for the second month in a row.

A 9.6 percent drop was seen in the month of July while June recorded 9.7 percent decline. Speaking of users, July saw a 12 percent decline with 1.5 billion users as compared to June's 1.7 billion users.