OpenAI reportedly surpasses two billion dollars in annualized revenue

OpenAI reached a projected annual revenue of more than $2 billion in December, the Financial Times reports. This makes OpenAI one of the fastest-growing technology companies in history, alongside Google and Meta. OpenAI plans to more than double its revenue by 2025 as companies look to deploy generative AI tools. 92 percent of Fortune 500 companies use OpenAI products, according to Altman. ChatGPT is estimated to be used by 100 million people every week. OpenAI is currently negotiating with investors to buy shares at a valuation of $86 billion. Considering the current annual revenue, this is still a high valuation (x43) and reportedly too high for some existing investors. Due to the high cost of developing and operating its models, OpenAI is not yet profitable.