The drama that unfolded at OpenAI several weeks ago with the abrupt firing of CEO Sam Altman and his almost immediate return did not prevent the rising technology startup from posting healthy financials. According to the latest report, the creator of the chatbot ChatGPT generated $1.6 billion, crossing the $1.3 billion figure it attained in mid-October, resulting in a 20 percent increase in just two months.
Increased growth is largely due to the rapid popularity of ChatGPT, as OpenAI has successfully retained enterprise customers
Two people familiar with the matter provided The Information with the increased revenue statistics. Even since launching ChatGPT in February this year, OpenAI has maintained a wave of increased growth as its user subscriptions continue to climb. The latest data reveals that the company can generate as much as $130 million in monthly revenue, but what is even more impressive is the financial comparison of the startup’s position back in 2022.
The revealed data states that OpenAI’s revenue for the 12-month period last year was a measly $28 million. If we take the latest figure into consideration, that will mean that the firm’s year-over-year revenue increase is an unfathomable 5,700 percent. The massive growth will likely pique investor interest, as according to Bloomberg, OpenAI is looking to commence a fresh round of funding, with a targeted valuation of $100 billion or more. Details of the company’s potential new partners have yet to be named.
There are also talks that OpenAI is diving into the custom chip market and is said to be in discussion with Abu Dhabi-based G42 to raise between $8 and $10 billion to kick things off into overdrive mode. As reported by ITHome, market research firm CB Insights says that if the $100 billion valuation round goes according to plan, then OpenAI will become the United States’ second most valuable startup, trailing just behind Elon Musk’s SpaceX.
News Source: The Information
