ChatGPT developer OpenAI approximately doubled its revenue in the first seven months of the year, reaching $12 billion in annualized revenue, The Information reported on Wednesday, citing a source, writes UNN.
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"According to a person who has spoken with OpenAI executives, OpenAI has roughly doubled its revenue in the first seven months of the year, reaching $12 billion in annualized revenue," the publication states.
This figure means that the ChatGPT developer generates $1 billion per month, compared to approximately $500 million per month at the beginning of the year.
The growth, it is noted, comes as the company registers approximately 700 million active users weekly for its ChatGPT products, which are used by both ordinary consumers and business clients, compared to 500 million active users weekly that OpenAI reported for all its products at the end of March.
The revenue growth, the publication writes, indicates that the company may surpass its revenue forecast of $12.7 billion for the year, compared to approximately $4 billion in 2024, as more businesses and individuals subscribe to its chatbot for coding and other tasks.
"Rapid growth comes at a cost. OpenAI has increased its cash burn forecast to approximately $8 billion in 2025, which is $1 billion more than the expenses projected earlier this year," according to the same person. This suggests that it may increase its previous forecast of $14 billion in server rental expenses to power its technologies in 2025, the publication writes.
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