"In 2023, ChatGPT Maker Achieved a $1.6 Billion Annual Revenue Amidst CEO Controversies"

 

Even though OpenAI, a developing tech company, disapproved of its CEO, Sam Altman, getting terminated and afterward rehired, it didn't influence how well the company did. A new report from The Information tells us that OpenAI, the company behind the ChatGPT chatbot, made a lot of money - $1.6 billion to be exact. This is more than the $1.3 billion they made in October, showing a major 20% expansion in only two months.

What's even more impressive is that OpenAI's team believes they could make a whopping $5 billion by the end of 2024, which is a super-fast growth rate of over 310%. This means they're doing well despite the challenges they faced.

The way they calculate their growth (by multiplying last month's earnings by twelve) shows that OpenAI is not just doing okay but is also getting better and better. They're selling their ChatGPT chatbot subscriptions and making money from software developers who use their models through something called an API.

In December, there was news that OpenAI is trying to get more money, and people think the company is worth around $100 billion. This is a big deal because it's about 62 times what they're expected to earn.

Comparing this to another company like Anthropic, which is also into AI and expects to make $200 million this year, shows that people investing in Anthropic are valuing it at 75 times its expected earnings. This gives us an idea of how ambitious OpenAI's valuation is. Despite all the drama and competition, OpenAI seems to be on a really good path.