OpenAI shutters short-form video app Sora as company reels in costs

Key PointsOpenAI said it's closing Sora, the short-form video app that went viral after its launch six months ago."We're saying goodbye to Sora," the company said in a post on X. "To everyone who created with Sora, shared it, and built community around it: thank you."OpenAI has been retreating from some of his costly projects as it tries to reel in costs ahead of a prospective IPO. Dado Ruvic | ReutersSix months after launching the Sora app and seeing it quickly go viral, OpenAI is shuttering the service, the company said on Tuesday. "We're saying goodbye to Sora. To everyone who created with Sora, shared it, and built community around it: thank you," OpenAI wrote in a post on X. "What you made with Sora mattered, and we know this news is disappointing. We'll share more soon, including timelines for the app and API and details on preserving your work."While Sora proved wildly popular with users, hitting one million downloads less than five days after its launch in late September, OpenAI is reeling in costs as it seeks to justify its $730 billion valuation and set the stage for a potential IPO. OpenAI has been retreating from some hefty spending plans, shelving certain ambitious projects and accepting its role as a purchaser of massive amounts of cloud capacity rather than as a builder of mammoth data centers.Earlier on Tuesday, OpenAI announced it will pivot away from of the Instant Checkout shopping feature it announced last year. The company also announced plans to combi...