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- OpenAI, the generative artificial intelligence company backed by Microsoft (NASDAQ:MSFT), has hit $10B in annual recurring revenue, CNBC reported.
- The figure includes its ChatGPT business, as well as revenue related to its application programming interface, a company spokesman told the news outlet.
- In addition, OpenAI is looking to hit $125B in annual revenue by 2029, the news outlet added, citing a person familiar with the matter.
- Last week, OpenAI said it had surpassed 3M paying subscribers, up from 2M paying users in February.
- OpenAI secured a $300B valuation in April after it raised $40B from a new funding round that was led by Japanese tech conglomerate SoftBank (OTCPK:SFTBY). That same month, OpenAI CEO Sam Altman said more than 800M people were using ChatGPT, a doubling that occurred in “just a few weeks.”
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