OpenAI has earned $2 billion in revenue and plans to double it by 2025
OpenAI has reached $2 billion in revenue and plans to double it by 2025.
OpenAI is expected to generate annual revenue of $2 billion in 2023, making it one of the fastest growing technology companies. This is reported in the Financial Times article.
- This figure was reached in December 2023, according to sources with knowledge of their finances.
- The company believes that with Microsoft's support, it will be able to double this amount by 2025 due to strong interest from business customers who want to use OpenAI technology to implement generative AI tools in the workplace.
- At the end of 2023, the company's annual revenue amounted to more than $1.6 billion, which is significantly higher than the figure of $1.3 billion recorded in mid-October. This rapid growth is due to the success of the ChatGPT product.
- This extraordinary growth puts OpenAI alongside Google and Meta, which have managed to earn $1 billion in the decade since their founding.
- According to investors, OpenAI is worth more than $80 billion. This company is located in San Francisco.
In addition, Sam Altman is known to be seeking three trillion dollars in funding to work in the semiconductor industry. The head of OpenAI is in talks with investors, including the UAE, to raise funds for an ambitious technology initiative that could increase the world's capacity to produce chips, expand their capabilities for artificial intelligence and will be worth several trillion dollars. According to the source, the project may require $5 trillion to $7 trillion.
The Pursuit of Artificial Intelligence
Consumer and business interest in generative artificial intelligence, systems that can generate code, text, images, video, and analyze information based on of user requests is growing rapidly.
Several competitors, including big tech giants like Google and Meta, as well as startups like Anthropic, Mistral, and Cohere, are also starting to commercialize their AI products.
Recently, Google renamed its chatbot Bard to Gemini and released a separate application for Android.
Elon Musk's artificial intelligence startup xAI plans to raise $6 billion in xAI and challenge OpenAI to the competition.
Currently, Microsoft is the largest sponsor of OpenAI, they have invested $13 billion in the company. They have created an alliance that allows them to lead the race for artificial intelligence.