OpenAI surpasses $1.6 billion in annual revenue driven by ChatGPT growth: Report

In a recent update on OpenAI's financial performance, The Information reported that the company's annualised revenue has surged to over $1.6 billion, marking a significant increase from $1.3 billion as of mid-October. This growth is attributed to the strong performance of OpenAI's ChatGPT product.

Adding to the financial developments, Bloomberg disclosed last week that OpenAI is currently engaged in preliminary discussions to secure a new round of funding. The potential valuation for this funding round is speculated to be at or surpassing the impressive $100 billion mark. It's worth noting that the terms, final valuation, and timing of this funding round are yet to be solidified and are subject to potential changes, as reported by Bloomberg.

In addition to funding talks, OpenAI has been exploring opportunities for a new chip venture in collaboration with G42, a company based in Abu Dhabi. The report emphasises that it remains unclear whether the funding for the chip venture and the broader company are interconnected. OpenAI is said to be in discussions with G42 to secure funding in the range of $8 billion to $10 billion.

Meanwhile, OpenAI is gearing up to conclude a separate tender offer led by Thrive Capital in early January. This initiative is designed to facilitate OpenAI employees in selling shares at a valuation pegged at $86 billion. This strategic move aligns with OpenAI's broader financial strategy and provides employees with the opportunity to participate in the company's financial success.

As OpenAI continues to demonstrate robust financial performance and explores avenues for funding and strategic ventures, the tech community awaits further details on the finalisation of the funding round and the potential implications for OpenAI's trajectory in the evolving landscape of artificial intelligence.

(With Reuters inputs.)