OpenAI's Annualized Revenue Doubles to $3.4 Billion Since Late 2023, Valued at $86 Billion

Jun 12, 2024, 08:55 PM

OpenAI's annualized revenue has more than doubled to $3.4 billion since late 2023, according to CEO Sam Altman. This significant growth, reported by The Information, highlights the accelerating business of the ChatGPT developer. Revenue was $1.6 billion in late 2023 and about $1 billion last summer. The increase is largely attributed to direct sales from ChatGPT and other OpenAI products, rather than through partnerships with companies like Microsoft. OpenAI was last valued at about $86 billion in a recent sale of employee shares, suggesting a valuation of approximately 25 times forward revenue. It is now valued at a modest 23.5x revenues.