Updated February 9th, 2024 at 12:12 IST
OpenAI reaches $2 billion in revenue: Report
The company's annualised revenue surged past $1.6 billion in December, primarily fueled by the growth of its ChatGPT product, up from $1.3 billion in mid-Oct.
OpenAI’s revenue: OpenAI, backed by Microsoft, achieved a new milestone, reaching $2 billion in revenue in December, as reported by the Financial Times. The AI startup anticipates more than doubling this figure by 2025, driven by robust interest from corporate clients seeking to leverage its technology for integrating generative AI tools into their operations.
Neither Microsoft nor OpenAI responded immediately to Reuters' request for comment.
The company's annualised revenue surged past $1.6 billion in December, primarily fueled by the growth of its ChatGPT product, up from $1.3 billion in mid-October, according to reports.
Investors have bestowed a valuation of over $80 billion upon the San Francisco-based startup.
OpenAI's CEO, Sam Altman, is reportedly engaging in discussions with investors, including the UAE, to secure funding for a technological initiative aimed at enhancing global chip manufacturing capabilities and expanding AI capabilities, among other objectives, as detailed by the Wall Street Journal on Thursday.
(With Reuters inputs)
Published February 9th, 2024 at 12:12 IST