OpenAI surpasses USD1.5 billion in annual revenue

OpenAI, the developer of the ChatGPT AI chatbot, has reported an increase in its annual revenue to USD1.6 billion, marking a 23% growth compared to October. The rise in sales of the ChatGPT chatbot to other businesses has been cited as the primary reason for this revenue surge. In December, it was reported that OpenAI was in discussions to secure additional funding of at least USD100 billion. OpenAI’s ChatGPT gained rapid popularity following its launch in November 2022, attracting over a million users within a week. Microsoft also announced its plans to invest billions of dollars in OpenAI in late January. OpenAI recently unveiled GPT-4, a new multimodal AI model capable of recognizing text and images while solving complex problems with enhanced precision.