OpenAI has already surpassed $1.3 billion in revenue

OpenAI – the Microsoft-backed company behind ChatGPT – is already generating revenue at an annualised rate of $1.3 billion, as per “The Information”.

OpenAI is scheduled for a developer event next month

The said number translates to more than $100 million a month which suggests explosive growth considering the artificial intelligence company brought in $28 million only in all of 2022. Its revenue stood at an annualised pace of $1.0 billion this past summer.

OpenAI secured a multi-billion-dollar investment from Microsoft Corp (NASDAQ: MSFT) at the start of this year that spoke volumes to disruptive potential the tech behemoth saw in artificial intelligence.

In February, it introduced a paid version of its critically acclaimed AI assistant – ChatGPT – followed by the launch of its commercial version in August.

OpenAI is now scheduled to release performance improvements and upgrades to ChatGPT at its developer event in November.

Good news, the @OpenAI fine-tuning UI now supports end to end job creation all in the UI, no code required to kick off a job! 🤯

Democratizing access to fine-tuning the worlds most advanced models is a huge win.

Congrats to @slessans on the ship! 🎉 pic.twitter.com/k86wluxcO3

— Logan Kilpatrick (@OfficialLoganK) October 6, 2023

OpenAI could soon command $90 billion valuation

Note that a bunch of prominent enterprises other than Microsoft has embraced the GPT-4. These include the likes of IKEA, Volvo, and Stripe.

When Microsoft invested $10 billion in OpenAI to own 49% of it, the artificial intelligence company was valued at about $29 billion – versus a whopping $80 billion to $90 billion that it may soon command, as per the Wall Street Journal.

Its rival Anthropic that was recently reported seeking $2.0 billion in new funding at up to $30 billion valuation has a revenue of about $100 million only at writing which translates to roughly $8.0 million a month.

That explains just how fast OpenAI is growing in terms of revenue. The annualised revenue of Anthropic is essentially what the Microsoft-backed company is bringing in every month.