OpenAI, creator of ChatGPT, reportedly nears $1 billion in annual sales

OpenAI is approaching the milestone of more than $1 billion in revenue within the upcoming 12 months, according to a new report.  A recent report from The Information suggests that this revenue milestone could be reached within the next year, a timeframe faster than initially projected by the company.

Earlier, the creator of ChatGPT had forecasted revenue of $200 million for this current year.

According to the report, the AI company's monthly earnings have surged to over $80 million, a significant jump from the $28 million earned in the entire previous year.

The company generates revenue through the sale of artificial intelligence software and and the sale of API access to its AI models. These offerings cater to both developers and enterprises. 

The report disclosed that by March, the company had amassed between 1 million and 2 million subscribers, each paying $20 per month to access the latest iteration of the chatbot model.

Microsoft is among the prominent adopters of OpenAI's technology, having integrated it into the Bing search engine. 

In a bid to bolster its revenue, OpenAI recently unveiled an enterprise version of ChatGPT. This enhanced version promises advanced security, privacy features, and unlimited high-speed access to GPT-4. The enterprise version removes all usage caps, and performs up to two times faster.

Early users of ChatGPT Enterprise include companies such as  Block, Canva, Carlyle, The Estée Lauder Companies, PwC, and Zapier.

In a blog post, the company stated, Since ChatGPT's launch just nine months ago, we’ve seen teams adopt it in over 80% of Fortune 500 companies." 

"We believe AI can assist and elevate every aspect of our working lives and make teams more creative and productive," the post added.