OpenAI doubles annual revenue to US$10b in six months
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The news: OpenAI hit USD10 billion ($15.4 billion) in annual recurring revenue as of June, almost doubling the metric from December, according to reports citing a company spokesperson.
The context: The milestone comes roughly two and a half years after it launched its popular ChatGPT chatbot.
In March, OpenAI closed a USD40 billion funding round that valued it at USD300 billion.
The reports come as OpenAI targets USD12.7 billion in revenue this year and, according to CNBC reports, USD125 billion by 2029.
The numbers: The figure includes revenue from consumer products, ChatGPT business products and its API, but excludes licensing revenue from Microsoft and large one-time deals.
OpenAI had around USD5.5 billion in ARR for all of last year. OpenAI reported a loss of about USD5 billion last year, with its rapid growth requiring a substantial amount of cash.
It had 500 million weekly active users as of late March and announced earlier this month it has three million paying business users, up from two million in February.
