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OpenAI on track to generate more than $1 bln revenue over 12 months - The Information

  • OpenAI is projected to generate over $1 billion in revenue in the next 12 months from the sale of its AI software and computing capacity, exceeding its previous estimate of $200 million in revenue for this year. The company's revenue has increased to over $80 million per month, compared to $28 million in the previous year.
  • OpenAI's success is attributed to its chatbot, ChatGPT, which has gained significant attention. ChatGPT, powered by OpenAI's large language model, has reached 100 million users and is being adopted by over 80% of Fortune 500 companies.
  • OpenAI aims to recover its losses through the success of ChatGPT. The company has launched a business version of ChatGPT with improved security and privacy features, and early users include Canva, Estée Lauder, and PwC. OpenAI also generates revenue by selling API access to its AI models.
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The Information broke the news in on Tuesday, August 29, 2023.
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