OpenAI has doubled its annual recurring revenue to an impressive $10 billion, an achievement that highlights how rapidly artificial intelligence is changing the tech business landscape.
This new figure reflects income not just from the wildly popular ChatGPT but also from a growing portfolio of enterprise offerings and the company’s application programming interface.
According to the company, more than 500 million people now use OpenAI’s products every week.
A staggering three million businesses are also paying customers.
It’s been just two and a half years since ChatGPT became public, yet the company’s growth shows few signs of slowing.
Ambitions and Financial Pressure Rise
Despite this milestone, OpenAI has set a wildly ambitious target: $125 billion in annual revenue by 2029.
There’s urgency behind these ambitions.
The company pours billions into attracting top talent and building out the massive infrastructure necessary to train and operate cutting edge artificial intelligence models.
So far, OpenAI has stayed quiet about its exact operating costs or if it is anywhere near turning a profit.
With expenses running high and the pace of innovation refusing to ease up, OpenAI finds itself in a race not just for revenue, but for dominance in the artificial intelligence arms race.
