OpenAI doubles revenue to $10B in just 6 months
What's the story
OpenAI has announced that its annualized revenue run rate has hit $10 billion as of June. The figure marks a significant jump from the estimated $5.5 billion in December 2024. The growth is attributed to the increasing adoption and usage of its popular ChatGPT artificial intelligence models.
Financial goals
OpenAI on track to meet 2025 revenue target
The latest revenue figure indicates that OpenAI is on track to meet its 2025 revenue target of $12.7 billion, which it had previously shared with investors. The $10 billion figure does not include licensing revenue from Microsoft, a key OpenAI investor, and large one-time deals.
Market position
OpenAI dominates the AI market
Despite losing around $5 billion last year, OpenAI's latest revenue figure highlights its market dominance over competitors. The company had a massive user base of 500 million weekly active users as of March end. Since launching its ChatGPT AI chatbot in November 2022, OpenAI has launched several subscription products for consumers and businesses alike. Anthropic, a rival to OpenAI, crossed $3 billion in annualized revenue due to high demand from code generation start-ups using its models.