The $30 million company’s tool is already generation $80M monthly revenue, and will likely generate over $1B of revenue in the next 12 months.
OpenAI’s chatbot ChatGPT can generate upward of $1 billion in annual revenue over the next 12 months as companies are looking to adopt more and more generative AI capabilities and ChatGPT is clearly the most popular and reliable right now.
The study was conducted by The Information (link—paywalled). The report hints that as big companies boost their AI spending, ChatGPT is poised to gain huge momentum. The Information referred to a person with direct knowledge of the situation when noting that OpenAI’s revenue is bound to go north of $1 billion in the next 12 months. This beats the previous estimates and projections of revenue and growth put forth by OpenAI to its shareholders.
The Microsoft-backed company has seen a major upswing in investor interest. OpenAI is already generating $80 million worth of revenue per month. Just multiplying this by 12 gives $960 million, just $40 million shy of a whole billion.
It’s noteworthy that OpenAI was only valued at around $30 million when it ranked as #1 on CNBC’s Disruptor 50 list.
Companies have found a new way to cut jobs, save time, or make their teams more productive with generative AI. ChatGPT has come out as one of the best tools to achieve all these goals and incidentally, the tool is seeing more and more users and companies using it.
With the release of ChatGPT’s Enterprise version, things are bound to become better for companies in terms of data privacy and security, among other things.