OpenAI's Revenue Skyrockets to $1.3 Billion Annualized Rate

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OpenAI's Revenue Skyrockets to $1.3 Billion Annualized Rate

Maginative2023-10-13

OpenAI, the company behind the viral conversational AI ChatGPT, is experiencing explosive revenue growth. The Information reports that CEO Sam Altman told the staff this week that OpenAI's revenue is ...

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Wallstrtbets
·2023-10-14
Noted.
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ZhongRenChun
·2023-10-13
I wish open AI would IPO
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kizze
·2023-10-13
Share your opinion about this news…
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Additionally, in August, the company announced the launch of ChatGPT Enterprise, a commercial version of its popular conversational AI chatbot aimed at business users.For comparison, OpenAI's total revenue for all of 2022 was just $28 million. The launch of ChatGPT has turbocharged OpenAI's business, positioning it as a bellwether for demand for generative AI.To contextualize OpenAI's revenue further, consider one of its closest competitors, AI startup Anthropic. Last week, reports emerged that Anthropic is seeking to raise $2 billion more at a valuation of $20 to $30 billion. However, the company has reached only $100 million in annualized revenue—about $8 million monthly.This puts Anthropic's current revenue at less than 1% of OpenAI's staggering $1.3 billion run rate. 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The Wall Street Journal reported that the company's total valuation might soon be pegged at an impressive $80 - $90 billion.For now, OpenAI seems poised to maintain momentum despite emerging competition from Google and Anthropic. But sustaining growth long-term could require solving the high computing costs of developing and running LLMs.Nonetheless, for a company that generated just $28 million last year, OpenAI's explosion to a $1.3 billion revenue run rate in mere months is a dramatic success story. 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