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OpenAI's annual revenues surpass $2 billion - Financial Times

Published 02/09/2024, 05:46 AM
Updated 02/09/2024, 05:49 AM
© Reuters OpenAI's annual revenues surpass $2 billion - report
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Investing.com -- OpenAI has achieved annualized revenues exceeding $2 billion, setting a record pace of growth reminiscent of the fastest-expanding tech firms in history, the Financial Times reported on Friday.

This achievement for the San Francisco-headquartered startup was reportedly reached in December 2023, with a calculation based on multiplying the revenue of the previous month by 12.

The report also mentioned that OpenAI, with support from Microsoft (NASDAQ:MSFT), is optimistic about its potential to more than double this revenue figure by 2025. This optimism is driven by the significant interest from corporate clients eager to integrate OpenAI’s generative AI tools into their operations.

OpenAI's rapid revenue increase places it among an elite group of Silicon Valley entities, such as Google (NASDAQ:GOOGL) and Meta (NASDAQ:META), achieving the $1 billion revenue landmark within ten years of their inception.

As previously reported by the Information, the company's annualized revenue had already reached $1.6 billion in December, spurred by the substantial growth of its flagship product, ChatGPT, up from $1.3 billion around mid-October.

The startup, led by Sam Altman, one of the leading figures in the AI world, has been valued by investors at over $80 billion.

Meanwhile, Altman is reportedly engaging with investors, including those from the UAE, to secure funding for a technological venture in a bid to increase global chip manufacturing capabilities and enhance AI's computational power, among other objectives, as per a recent report by the Wall Street Journal.

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