You can't just say things like this without justification. The last raise was in October, at $157B. Did OpenAI, the hottest startup in history, give away equity at a discount?

Now, since that time, has the value gone up or down? We now know they have serious technological competition and are losing lots of money.

I think the product is great, but they aren't worth limitless amounts of money.

Anyone with enough hardware can run the model and run a competing service for less.

Many companies currently using OpenAI are considering alternative cheaper and better options.

The OpenAI moat has been filled in.

Now with DeepSeek-R1, any company can host very similar service, so the technological edge has been lost.

Google itself offers similar experience with Google Flash 2.0 Thinking.

We haven't seen revolution with o3 (most of us, programmers, here are still with claude-sonnet-3.5 than the supposedly groundbreaking gpt-o3).

OpenAI isn't even profitable yet, and they might never become profitable.