OpenAI Doubles Annualised Revenue To $3.4 Billion: Report

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New Delhi: OpenAI is projected to earn 3.4 billion dollars in annual revenue, CEO Sam Altman reportedly told staff in a meeting. According to a report by The Information, most of this revenue around 3.2 billion dollars comes from OpenAI’s products and services. The company is expected to generate about 200 million dollars by providing access to its AI models through Microsoft Azure.

The Information was the first to report the 3.4 billion dollars revenue figure. The outlet previously noted that OpenAI’s annualised revenue was 1.6 billion dollars in late 2023. This news comes after OpenAI completed a tender offer valuing the startup at 86 billion dollars. ChatGPT has become a driving force in AI development and the company is increasing revenue from its AI products by selling services to enterprise customers. ()

OpenAI has focused on boosting revenue from its AI products by selling services to enterprise customers in recent months. The company has started training a more powerful AI model to stay ahead of well-funded rivals competing for the same users and businesses. ()

OpenAI has started training a more powerful AI model to stay ahead of growing competition. The company also hired Sarah Friar, former CEO of Nextdoor Holdings Inc as its new chief financial officer. “We are delighted to be working with Microsoft and Oracle. OCI will extend Azure’s platform and enable OpenAI to continue to scale,” Sam Altman said in a statement.