OpenAI’s ChatGPT Boosts Annual Revenue to $1.6B Amid Sales Surge

OpenAI’s annual revenue surged to US$1.6 billion, marking a significant 23% increase compared to October when the company’s revenue stood at US$1.3 billion, according to reports. This surge in revenue was primarily driven by the increased sales of OpenAI’s ChatGPT chatbot to other enterprises. OpenAI’s ChatGPT gained immense popularity after its launch in November 2022, attracting over a million users in under a week. Building on this momentum, OpenAI also received a major boost in late January when Microsoft announced its plan to invest billions of dollars in the company. OpenAI recently unveiled its groundbreaking multimodal AI model, GPT-4, in March. This model possesses the capability to analyze both text and images while offering enhanced problem-solving accuracy. Earlier in December, it was reported that OpenAI was in discussions to secure additional funding of at least US$100 billion. With its strong performance and ongoing innovations, OpenAI continues to solidify its position as a leading force in the artificial intelligence domain.