OpenAI seemed invincible a week ago. Now it’s extremely vulnerable.

Just a week ago, OpenAI was poised to be the next Google or Facebook. Now, it’s drawing comparisons to Netscape Communications, Silicon Graphics and Sun Microsystems, once highflying companies relegated to the dustbin of Silicon Valley history.

Nearly a year after introducing ChatGPT to the world, helping establish it as an indisputably disruptive technology poised to sweep the economy — prompting an executive order from the Biden administration — OpenAI was seemingly aligned for a monster IPO and elevated status as the world’s…