OpenAI is on track to generate more than $1 billion in revenue over the upcoming 12 months from the sale of the artificial intelligence software and computing power that powers it, the information reported on Tuesday.
The ChatGPT maker previously predicted $200 million in revenue for this year.
According to the report, in comparison to just $28 million in revenue for the entire last year, the Microsoft-backed company now brings in more than $80 million per month.
In addition to ChatGPT, it also generates revenue through the direct sale of API access to its AI models to developers and businesses and through a collaboration with Microsoft, which invested over $10 billion in the company in January.
As investors see generative AI as the next big growth area for tech companies, ChatGPT, known for producing prose or poetry on command, has drawn much attention in Silicon Valley.