OpenAI, a company that develops and licenses machine learning-based technologies, has nearly $1 billion in annual revenue, according to Bloomberg. The company’s technologies are at the heart of ChatGPT, a generative artificial intelligence bot that has gained widespread popularity among many companies and has attracted a significant wave of investment in AI.
The Microsoft-backed startup makes about $80 million a month, a source familiar with the matter, who wished to remain anonymous, told the publication. For the first time, OpenAI’s revenue was notably reported by The Information, noting that the company lost about $540 million in 2022 from the development of the GPT-4 language model and the ChatGPT chatbot.
OpenAI is recognized as one of several companies at the forefront of generative artificial intelligence, capable of creating content ranging from videos to poetry with a few simple user commands. Since its bot debut in November, OpenAI has licensed it to startups and large corporations, helping them integrate the technology into their business, product, and service ecosystems.
This month, the company launched an enterprise version of ChatGPT with additional features and privacy. This is the startup’s most significant attempt to attract a wide range of business customers and increase sales of its most famous product.
The launch of ChatGPT Enterprise is a step forward in OpenAI’s plans to monetize their wildly popular but very expensive product to implement and operate. Significant specialized computing power is required to operate an artificial intelligence model. The company has already implemented several revenue models with ChatGPT, such as offering a premium subscription for customers and paid access to a software programming interface that developers can use to add the chatbot to other applications.