OpenAI, the creator of ChatGPT, is on track to bring in $1 billion

OpenAI, the company that made Chatbot AI ChatGPT, will reportedly generate 10-figure revenue at its current trajectory.

The Microsoft-backed company is expected to achieve this within the next year. according to the information. Reports indicate that its monthly revenues reach more than $80 million on a monthly basis.

The information cited an anonymous source with “direct knowledge of the situation.” FOX Business reached out to OpenAI for comment on the outlet’s report on Tuesday.

This $1 billion in revenue is driven by its AI technology, including its ChatGPT tool and application programming interface (API), according to The Information.

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Earlier this year, OpenAI began offering the option to subscribe to ChatGPT at a cost of $20 per month. The company also charges for its API.

The California-based company reportedly had revenue of $28 million in 2022. While ChatGPT and the large multimedia model GPT-4 were in the works, it posted a loss of $540 million, according to The Information.

ChatGPT has been available to the public since late 2022. Nearly 1-2 million people reportedly signed up for the paid version in March.

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OpenAI on Monday unveiled the debut of ChatGPT Enterprise, an enterprise-oriented release, as FOX Business previously reported.

The AI ​​startup said at the time that it had “seen teams adopting (ChatGPT) in more than 80% of Fortune 500 companies.” Other companies have also launched features powered by OpenAI’s chatbot for products this year.

The AI ​​sector in general has caught the attention of lawmakers as the field continues to grow and more AI tools enter the market.

Elon Musk and Mark Zuckerberg are set to brief US senators on artificial intelligence next month

Sam Altman, CEO of OpenAI, will speak at the Senators’ AI Forum in mid-September. Others such as Google CEO Sundar Pichai, X Company Chairman Elon Musk, and Meta Platforms CEO Mark Zuckerberg are expected to join him.

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Altman appeared before Congress in May to testify about artificial intelligence.

Andrea Vacchiano and Chad Pergram contributed to this report.

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