Despite CEO drama, OpenAI's Annualised Revenue grew 20% in 2 months, to make over $1.6 billion

In a recent turn of events at OpenAI, the unexpected dismissal and rapid reappointment of CEO Sam Altman failed to impede the flourishing technology startup, as it unveiled robust financial figures. According to the latest report, the brains behind the ChatGPT chatbot, OpenAI, recorded an impressive $1.6 billion in revenue, surpassing the $1.3 billion mark achieved in mid-October, marking a remarkable 20 percent surge in just two months, as reported by The Information.

Insiders familiar with the situation shared the heightened revenue statistics with The Information. Since the launch of ChatGPT in February of this year, OpenAI has experienced sustained growth, evidenced by a continuous climb in user subscriptions. Recent data indicates a staggering monthly revenue potential of up to $130 million, showcasing the company’s dynamic financial performance. The juxtaposition of OpenAI’s current standing in comparison to its 2022 position is particularly noteworthy.

Revealed data highlights that OpenAI’s revenue for the 12-month period in the preceding year amounted to a modest $28 million. Taking the latest figure into account implies an astronomical year-over-year revenue surge of 5,700 per cent. This substantial growth is expected to capture the attention of investors, with reports from Bloomberg suggesting that OpenAI is gearing up for a fresh round of funding, aiming for a valuation of $100 billion or more. The identities of potential new partners remain undisclosed at this point.

Further discussions suggest that OpenAI is venturing into the custom chip market and is reportedly in talks with G42, based in Abu Dhabi, to secure an initial funding ranging between $8 and $10 billion. As highlighted by ITHome, market research firm CB Insights anticipates that if the $100 billion valuation round unfolds successfully, OpenAI will emerge as the United States’ second most valuable startup, trailing only behind Elon Musk’s SpaceX.

In a recent turn of events at OpenAI, the unexpected dismissal and rapid reappointment of CEO Sam Altman failed to impede the flourishing technology startup, as it unveiled robust financial figures. According to the latest report, the brains behind the ChatGPT chatbot, OpenAI, recorded an impressive $1.6 billion in revenue, surpassing the $1.3 billion mark achieved in mid-October, marking a remarkable 20 per cent surge in just two months.

Insiders familiar with the situation shared the heightened revenue statistics with The Information. Since the launch of ChatGPT in February of this year, OpenAI has experienced sustained growth, evidenced by a continuous climb in user subscriptions. Recent data indicates a staggering monthly revenue potential of up to $130 million, showcasing the company’s dynamic financial performance. The juxtaposition of OpenAI’s current standing in comparison to its 2022 position is particularly noteworthy.

Revealed data highlights that OpenAI’s revenue for the 12-month period in the preceding year amounted to a modest $28 million. Taking the latest figure into account implies an astronomical year-over-year revenue surge of 5,700 percent. This substantial growth is expected to capture the attention of investors, with reports from Bloomberg suggesting that OpenAI is gearing up for a fresh round of funding, aiming for a valuation of $100 billion or more. The identities of potential new partners remain undisclosed at this point.

Further discussions suggest that OpenAI is venturing into the custom chip market and is reportedly in talks with G42, based in Abu Dhabi, to secure an initial funding ranging between $8 and $10 billion. As highlighted by ITHome, market research firm CB Insights anticipates that if the $100 billion valuation round unfolds successfully, OpenAI will emerge as the United States’ second most valuable startup, trailing only behind Elon Musk’s SpaceX.

(With inputs from agencies)