OpenAI’s annualized revenue has soared to $1.6 billion, reaching this milestone just two months after hitting $1.3 billion. The company’s impressive sales momentum coincides with its efforts to raise new funding at a valuation of at least $100 billion.
The rapid sales growth was sparked by the launch of ChatGPT Plus in February 2023, significantly surpassing the company’s initial revenue expectations. OpenAI’s executives anticipate its annualized recurring revenue may reach $5 billion by the end of 2024, suggesting plans for new AI services to sustain sales growth.
OpenAI’s escalating revenue could elevate its valuation in the coming year, with indications that it could soon surpass $100 billion. The surging demand for AI is also benefiting its competitors, with Anthropic PBC projecting an annualized revenue run rate of $850 million and negotiating a $750 million raise at a $15 billion valuation.
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