OpenAI has recently reached $10 billion in annual recurring revenue, according to a company spokesperson speaking to CNBC.

This marks a sharp increase from approximately $5.5 billion the previous year.

The revenue includes income from OpenAI’s consumer products, business offerings through ChatGPT, and its API services.

The company now serves more than 500 million weekly active users and 3 million paying business customers, the spokesperson confirmed.

This milestone comes around two and a half years after the launch of ChatGPT, OpenAI’s widely adopted chatbot platform.

OpenAI is aiming to reach $125 billion in annual revenue by 2029. The company did not provide further details on the strategy behind this long-term financial target.

OpenAI is under pressure to increase revenue quickly. The company spends billions of dollars annually on hiring and recruitment, as well as infrastructure needed to train and operate its AI systems.

OpenAI has not disclosed its operating expenses or whether it is currently profitable.

PHOTO: UNSPLASH

This article was created with AI assistance.