OpenAI is on track to generate $3.4 billion in annual revenue, CEO Sam Altman told company staff, according to a person familiar with the matter.
At an all-hands meeting Wednesday, Altman said the vast majority of that revenue — about $3.2 billion — comes from OpenAI’s products and services, according to the person, who spoke on condition of anonymity to discuss internal communications. Altman said OpenAI is also on track to generate about $200 million by offering access to its AI models through Microsoft Azure, the person said.
The Information was the first to report the revenue figure. The outlet previously reported that annualized revenue was $1.6 billion at the end of 2023. OpenAI declined to comment.
OpenAI has become a driving force in AI development, thanks to the viral success of ChatGPT, which helped start the frenzy around generative AI. Earlier this year, OpenAI completed a takeover bid valuing the startup at $86 billion.
In recent months, OpenAI has been working to increase revenue from its AI products by selling services to enterprise customers. OpenAI has also begun training a more powerful AI model that could help it stay ahead of a growing number of well-funded rivals competing for the same users and businesses.
This week, the startup hired Sarah Friar, former CEO of neighborhood social networking service Nextdoor Holdings Inc., to serve as chief financial officer, a role that has been vacant at the fast-growing artificial intelligence firm for two years. . Friar will help OpenAI continue to invest in AI research while growing its global business, the startup said.
