OpenAI Doubles Annualised Revenue To $3.4 Billion: Report | Companies News

The Information was the first to report the 3.4 billion dollars revenue figure. The outlet previously noted that OpenAI’s annualised revenue was 1.6 billion dollars in late 2023. This news comes after OpenAI completed a tender offer valuing the startup at 86 billion dollars. ChatGPT has become a driving force in AI development and the company is increasing revenue from its AI products by selling services to enterprise customers. (Also Read: Twitter Layoffs: Elon Musk Asks Employees To Justify Their Roles, Rate Colleagues)

OpenAI has focused on boosting revenue from its AI products by selling services to enterprise customers in recent months. The company has started training a more powerful AI model to stay ahead of well-funded rivals competing for the same users and businesses. (Also Read: Nvidia CEO Jensen Huang Says He ‘Doesn’t Fire’ Employees, Rather ‘Torture Them Into…’)

OpenAI has started training a more powerful AI model to stay ahead of growing competition. The company also hired Sarah Friar, former CEO of Nextdoor Holdings Inc as its new chief financial officer. “We are delighted to be working with Microsoft and Oracle. OCI will extend Azure’s platform and enable OpenAI to continue to scale,” Sam Altman said in a statement.