OpenAI hits $10 billion in annual recurring revenue fueled by ChatGPT growth

OpenAI has deed $10 cardinal successful yearly recurring revenue, oregon ARR, little than 3 years aft launching its fashionable ChatGPT chatbot.

The fig includes income from the company's user products; ChatGPT concern products; and its exertion programming interface, oregon API. It excludes licensing gross from Microsoft and ample one-time deals, according to an OpenAI spokesperson.

For each of past year, OpenAI had astir $5.5 cardinal successful ARR. Reaching its meteoric maturation rates requires a important magnitude of cash. The San Francisco-based startup mislaid astir $5 cardinal past year.

OpenAI is besides targeting $125 cardinal successful gross by 2029, according to a idiosyncratic acquainted with the substance who asked not to beryllium named due to the fact that the details are confidential. The Information archetypal reported connected OpenAI's gross ambitions.

The caller gross metrics springiness immoderate discourse to OpenAI's monster valuation. OpenAI closed a $40 cardinal backing circular successful March, marking the largest backstage tech woody connected record. At today's metrics, OpenAI is valued astatine astir 30 times revenue, which highlights the hyper maturation expectations by immoderate of its largest investors. OpenAI is backed by Japan's SoftBank, Microsoft, Coatue, Altimeter, Thrive and others.

OpenAI burst onto the country with the merchandise of the user mentation of ChatGPT successful precocious 2022, and began launching concern products the pursuing year.

As of precocious March, OpenAI said it supports 500 million play progressive users. The institution announced earlier this period that it has three million paying concern users, up from the 2 cardinal it reported successful February.

WATCH: OpenAI paying concern users of ChatGPT hits 3 million, up from 2 cardinal successful February