OpenAI's new milestone
OpenAI is set to double its annual revenue this year
During an internal all-hands meeting on Wednesday, OpenAI CEO, Sam Altman, announced that the company is set to hit $3.4B in annual revenue this year, which is double what it made last year.
How has OpenAI achieved this?
Altman confirmed that most of its revenue, approximately $3.2B, is expected to come from its ChatGPT Plus subscriptions, which offer users added features, like higher messaging limits, for $20p/m.
The second biggest revenue stream ($200M) is likely to come from providing Microsoft Azure users with access to its AI models, as part of its partnership with Microsoft.
OpenAI’s growth trajectory
Since it launched ChatGPT in November 2022, OpenAI has experienced rapid growth. Its new forecasted revenue is expected to double what it made last year, which was $1.6B. Alongside the popularity of ChatGPT, its growth can be attributed to its strategic partnerships with enterprise customers and the advancement of its GPT functionality and capability.
With the recent appointment of the new Chief Financial Officer (a position that has remained empty for two years), Sarah Friar, who will oversee OpenAI’s finances and support global growth plans, OpenAI clearly plans to keep the rapid growth trajectory going.
