Nvidia:
- has absurd gross margin, almost half it's revenue are profits
- it has virtually no competition
OpenAI's moat does not exist. Even if they had one, all it takes is a competitor to buy out some engineering talent.
Nvidia:
- has absurd gross margin, almost half it's revenue are profits
- it has virtually no competition
OpenAI's moat does not exist. Even if they had one, all it takes is a competitor to buy out some engineering talent.
Sure, but even assuming OpenAI gets to a tamer 20% net margin, 25x earnings wouldn’t be surprising so they’re raising on a projected $60B/yr revenue which might not be where they end up, but doesn’t seem like an unreasonable bet to make.