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OpenAI expects to reach $1.6 billion (€1.45 billion) in revenue by 2023, which is more than initially predicted.

So reports The Information based on sources. At the beginning of 2023, the AI developer envisioned a maximum revenue of $200 million, but at the end of December, it appeared to have significantly exceeded that amount.

In October of the previous year, expected annual sales for 2023 were estimated at $1.3 billion. In August, the $1 billion sales threshold was reached. Remarkably, the events surrounding the company in November of that year, with much ado surrounding the CEO and staff, seemed to have little impact on annual sales.

Popularity ChatGPT

According to The Information, OpenAI’s revenue has increased significantly since the introduction of its paid service ChatGPT Plus in February 2023. As a result, ChatGPT usage increased more than the company initially expected.

OpenAI initially made money primarily by providing its AI models to developers via an API.

Increasing market value

In addition to achieving higher revenue by 2023, OpenAI is also working to increase its market value. Currently, the company is said to be finalizing a new round of investment, intended to bring the company’s market value to at least $100 billion.

An investment round has already taken place in recent months, with the AI developer’s value set to rise to a total of $86 billion.

Results for 2024

Looking ahead, The Information predicts that OpenAI’s revenue will continue to grow. They expect revenue to quadruple to as much as $5 billion by 2024.

In 2024, OpenAI could also introduce a new AI model, GPT-5, which is more powerful than the current GPT-4 model. When this latest version will be released, and its possible features are currently unknown.

Tip: New York Times sues OpenAI and Microsoft: “billions of dollars in damages”