TECH - OpenAI Shatters Records - Here's How ChatGPT Propelled Revenue Beyond $2B | Benzinga
ChatGPT parent OpenAI has seen its revenues soar beyond $2 billion annually, marking a significant milestone that places it among the fastest-growing technology companies ever.
This achievement, reported in December 2023, underscores the widespread success of its AI product, ChatGPT, which has captured the attention of both consumer and business sectors.
Backed by Microsoft Corp (NASDAQ:MSFT), OpenAI is optimistic about doubling its revenue by 2025, driven by the burgeoning demand for generative AI tools in professional settings, the Financial Times reports.
Previous reports indicated OpenAI seeking further financial backing from Microsoft to develop superintelligent GPT-5. In 2023, Microsoft invested $10 billion in OpenAI under a “multiyear” agreement that valued the company at $29 billion.
Founded in 2015 as a non-profit AI research lab, OpenAI transitioned into a commercial entity in 2020. This move has ...