OpenAI Annual revenue reportedly exceeded $2 billion in December.
ChatGPT’s creators say they believe they can more than double this number by 2025, thanks to strong interest from enterprise customers who want to use the company’s generative artificial intelligence (AI) tools in the workplace. The Financial Times (FT) reported. report Friday (February 9), citing anonymous sources.
OpenAI did not immediately respond to PYMNTS’ request for comment.
By reaching the $2 billion annual revenue milestone, OpenAI joins the ranks of technology giants including: Google and meta According to the report, it is one of the fastest growing companies in history.
OpenAI was originally founded in 2015 as a nonprofit artificial intelligence (AI) research institute and transitioned to a for-profit organization in 2020, according to the report. Since then, its revenue has grown exponentially. OpenAI’s annual revenue in October was $1.3 billion.
According to the report, OpenAI’s success can be attributed to the product’s widespread adoption by major enterprises. OpenAI CEO Sam Altman said in November that 92% of Fortune 500 companies use OpenAI products, including ChatGPT and its underlying AI model GPT-4.
Despite increasing revenue, OpenAI remains a loss-making company due to the high costs of building and operating AI models, the report said. In an interview with the FT in November, Altman acknowledged the cost of his training, but stressed its necessity to drive innovation.
Leading supporter of OpenAI, microsoftThe report said it had pledged up to $13 billion to support the company.of strategic alliance Between the two companies, there is a model for OpenAI that serves as the foundation for Microsoft’s AI Copilot. AI assistant For enterprise users of Microsoft 365.
OpenAI recently inventory sales The company’s valuation is now $86 billion, triple what it was in April 2023, according to the report.
Altman is also looking for ways to reduce costs by increasing the supply of semiconductors, a critical resource for AI companies, the report said.
OpenAI announced several additions to its capabilities in January. AI model It says these include new embedded models, application programming interface (API) usage management tools, and plans to reduce the price of one of its models.
