More

    ChatGPT Maker’s Annual Revenue Was $1.6 Billion in 2023

    ChatGPT Maker’s Annual Revenue Was $1.6 Billion in 2023. OpenAI, a burgeoning tech startup, navigated recent upheaval without compromising performance. Despite the temporary dismissal and subsequent reinstatement of CEO Sam Altman a few weeks ago, The Information’s latest report reveals OpenAI, the creator of ChatGPT, achieved an impressive $1.6 billion in revenue, marking a 20% growth within two months and surpassing the mid-October figure of $1.3 billion.

    This remarkable revenue surge, despite management challenges, outpaces figures from mid-October, with OpenAI members expressing confidence in a potential staggering growth to $5 billion by the end of 2024—a remarkable 310% increase. The company’s ability to sustain this upward trajectory is highlighted by a 20% increase in just two months, emphasizing its success in marketing AI technology to both corporate and individual clients.

    OpenAI’s revenue primarily comes from ChatGPT subscriptions and API fees for software developers. Bloomberg’s December report revealed OpenAI’s pursuit of additional capital with a potential $100 billion valuation, equating to a notable 62 times its projected earnings—an ambitious goal reflecting industry trends.

    Comparatively, Anthropic, an OpenAI rival in AI model development, forecasts a $200 million annual revenue for the current year, with investors valuing the company at an astonishing 75 times its anticipated revenue in its funding round.

    Also Read:Startup Funding in Pakistan Takes a Hit, Records $75.6 Million in 2023

    Latest articles

    AAOIFI and Meezan Bank jointly hosted a public hearing session on the new AAOIFI Sukuk Standard

    The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) with Meezan Bank hosted a significant public hearing session on the draft Shariah Standard...

    Suleman Dawood School of Business Reaccredited by AACSB International

    AACSB International Board of Directors has extended the accreditation for the degree programmes offered by the Suleman Dawood School of Business (SDSB) at LUMS. In...

    Foreign Investors Express Concern Over Pakistan’s Security in OICCI 2024 Survey

    The Overseas Investors Chamber of Commerce and Industry (OICCI), has released the results of its latest Security Survey 2024, highlighting increasing concerns over the...

    Aoun Ali Khan: Captivating Audiences Across Music, Film, and TV with Unmatched Creativity

    Aoun Ali Khan, brimming with talent, has hit the music, film, and TV headlines in an extraordinary outpour of creative fervor. The multi-faceted artist,...

    Related articles