OpenAI, the pioneering company behind the innovative ChatGPT platform, is set to achieve a remarkable milestone as it propels towards earning over $1 billion USD in annual sales. The surge in registrations from numerous firms to employ the chatbot has been the driving force behind this impressive financial projection.
According to reports, OpenAI’s revenue has exceeded initial shareholder estimates. Current data points to a staggering monthly income of approximately $80 million USD, defying earlier speculations that the company will not attain its projected $80 million until 2024.
Just a year ago, OpenAI’s earnings stood at $28 million USD before the company’s strategic transition towards monetizing its chatbot service. By March 2023, the company had successfully amassed a subscriber base of around 2 million users, each contributing $20 per month.
The wave of success of the chatbot which has generated investments in the technology could help the company recover a part of its losses of about 540 million USD while developing ChatGPT and GPT-4 in 2022.
ChatGPT Enterprise to further drive OpenAI’s revenue
The company just launched ChatGPT Enterprise, business version of its chatbot earlier this week, providing users, especially companies, with improved security features. This move is a part of OpenAI’s plan to attract business clients and ultimately boost income from its technology.
Early adopters of the new version include PwC and Estee Lauder, according to the company. The adoption of ChatGPT by more than 80 per cent of Fortune 500 firms necessitated the development of ChatGPT enterprise. The launch of the new version comes about seven months after the company released the $20 per month subscription service for premium subscribers.
The release of ChatGPT Enterprise is the company’s plan to generate revenue from its chatbot whose operation costs a fortune as the models need large computing capacity
Apart from generating revenue from ChatGPT, the company also makes money through the sales of API access to developers.
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