>Today, OpenAI (and other AI startups) are losing billions and expect to lose more billions in the upcoming years even though the current interest rate is ~4%.

AI stuff is little different. If OpenAI and others hit AGI or anything remotely near it, the money is in theory massively endless. So investing when you could get 4% in a company that would return 10000% makes sense.

However, 4% in a company growing 15% in their field with profit margin of 10% means if only 1 in 5 survive, you have lost money so investors pull back.