OpenAI, the firm that made AI chatbot ChatGPT, will reportedly bring in 10 figures of revenue on its current trajectory.
The Microsoft-backed company is expected to reach that over the next one-year period, according to The Information. On a monthly basis, its revenues reportedly come in more than $80 million.
The Information cited an anonymous source that held "direct knowledge of the situation." FOX Business reached out to OpenAI for comment on the outlet’s Tuesday report.
That $1 billion revenue is being driven by its AI technology, including its ChatGPT tool and its application programming interface (API), according to The Information.
Earlier this year, OpenAI started offering a subscription option for ChatGPT that costs $20 each month. The company also charges for its API.
The California-based company reportedly saw revenues of $28 million in 2022. While ChatGPT and its GPT-4 large multimodal model were in the works, it experienced a $540 million loss, according to The Information.
ChatGPT has been publicly available since late 2022. Roughly 1-2 million people reportedly had subscribed to the paid version in March.
On Monday, OpenAI revealed the debut of ChatGPT Enterprise, a version geared toward businesses, as previously reported by FOX Business.
The AI start-up at the time said it has "seen teams adopt it (ChatGPT) in over 80% of Fortune 500 companies." Other companies have also debuted features powered by OpenAI’s chatbot for products this year.
The AI sector overall has drawn the attention of lawmakers as the field continues to heat up and more AI tools enter the market.
OpenAI CEO Sam Altman will speak at an artificial intelligence forum for senators in mid-September. He is expected to be joined by others like Google CEO Sundar Pichai, X Corp. Chairman Elon Musk and Meta Platforms CEO Mark Zuckerberg.
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Altman went before Congress in May to give testimony on AI.
Andrea Vacchiano and Chad Pergram contributed to this report.