OpenAI has reportedly abandoned its AI model, codenamed Arrakis, after it failed to meet efficiency expectations. The model was being developed alongside GPT-4 to power AI applications like ChatGPT more cost-effectively. The setback comes amid OpenAI’s rapid growth, with CEO Sam Altman predicting annual revenues of $1.3 billion. However, the company faces challenges, including Google’s impending release of rival AI model Gemini and potential scrutiny at an upcoming AI safety summit.