OpenAI's revenue exceeded $2 billion annually, and the wild success of its flagship product ChatGPT makes the company one of the fastest-growing technology companies in history. The Financial Times writes about this.
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According to two FT sources familiar with the startup's financial situation, annual revenue reached $2 billion in December 2023.
The Microsoft-backed company believes it can more than double that figure in 2025 , thanks to strong interest from business clients looking to use OpenAI technology to embed AI tools into business processes.
With this rapid growth, OpenAI will be among the few Silicon Valley companies, including Google and Meta, to reach $1 billion in revenue within ten years of its founding.
OpenAI was founded as a non-profit AI research laboratory in 2015 , but became a commercial giant after creating a business unit in 2020.
According to The Information, its annual revenue was $1.3 billion as recently as October last year, but sales growth continues to accelerate .
Despite controversy at the company in November, when CEO Sam Altman was fired by the board of directors and reinstated a few days later, the group continues to capitalize on the AI boom it began with the launch of ChatGPT in November 2022 .
According to Altman, as of last November, 92% of Fortune 500 companies used OpenAI products, including ChatGPT and GPT-4, and the chatbot has 100 million weekly users.
At the same time, Altman said that OpenAI remains unprofitable due to the huge costs of creating and running models.