OpenAI’s annual revenue doubles to $3.4 billion

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The majority of this revenue came from the company’s products and services

What’s the story

OpenAI, the name behind the popular ChatGPT AI chatbot, will double its annual revenue to $3.4 billion.

The majority of this revenue, approximately $3.2 billion, is generated from the company’s products and services.

Another $200 million is expected to come from providing access to the AI ​​models through Microsoft Azure.

This information was shared by CEO Sam Altman during an all-hands meeting on Wednesday The information.

OpenAI’s revenue growth and strategic initiatives

OpenAI’s revenue has increased significantly from $1.6 billion at the end of 2023 to the current expected figure of $3.4 billion.

This growth can be attributed to OpenAI’s strategic initiatives, including selling services to enterprise customers and developing a more advanced AI model.

The company’s success is also tied to the popularity of ChatGPT, which has played a key role in the rise of generative AI.

OpenAI appoints Sarah Friar as CFO

OpenAI has appointed Sarah Friar, former CEO of Nextdoor Holdings, as its new Chief Financial Officer.

This position has been vacant at the company for two years.

Friar’s role will be to manage OpenAI’s finances and support global business growth, while continuing to invest in AI research.

Her appointment comes at a time when the company is experiencing significant revenue growth and expanding its services to corporate clients.

OpenAI has also appointed Kevin Weil as Chief Product Officer.