OpenAI targets to produce more than $1 bln revenue over 1 year
By MYBRANDBOOK
As per reports, OpenAI is on track to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and computing capacity. Compared to just $28 million in the entire previous year, the company now brings in more than $80 million per month in sales.
Besides ChatGPT, it makes money by selling API access to its AI models for developers and enterprises directly and through a partnership with Microsoft, which invested over $10 billion into the company in January.
ChatGPT, known for producing prose or poetry on command, has gained widespread attention in Silicon Valley as investors see generative AI as the next big growth area for tech companies.
The report suggests that external signs strongly suggest that OpenAI is excelling in selling integrations to enterprises. An analysis of first-half earnings calls in 2023 reveals an uptick in questions about ChatGPT from analysts. Moreover, more than 100 business executives across various sectors, including online retail and fashion, have discussed their adoption of ChatGPT integrations.
OpenAI opened their chatbot to the public in November last year. The company got a substantial boost after its partnership with Microsoft earlier this year, involving a multi-billion-dollar investment.
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