OpenAI hits revenue milestone of $2 billion: What's next?
What's the story
OpenAI, the Microsoft-supported AI start-up behind ChatGPT, has achieved an impressive revenue milestone of $2 billion. In light of this success, CEO Sam Altman is reportedly in talks with potential investors to raise billions for a new chip-making company to satify its growing demand for semiconductors. Among those in discussions are Sheikh Tahnoon bin Zayed al-Nahyan from the UAE, Taiwan Semiconductor Manufacturing Company (TSMC), and SoftBank.
Funding
Funding plans for OpenAI's chip-making company
Bloomberg reports that building a state-of-the-art manufacturing facility for OpenAI would necessitate tens of billions of dollars in funding. It's still uncertain whether the new company will function as a subsidiary of OpenAI or as an independent entity. However, it is confirmed that OpenAI will be the first client of this new venture.
Shortages
Addressing AI chip shortages and manufacturing outlook
Previously, it was reported that OpenAI was considering manufacturing its own chipset and exploring potential acquisition options. The start-up was actively seeking solutions to the AI chip shortage, such as diversifying suppliers beyond NVIDIA and partnering with other chip manufacturers. The launch of OpenAI's ChatGPT over a year ago has sparked a surge in interest in AI applications, leading to a significant demand for the necessary chips.
Target
OpenAI can double its revenue by next year
OpenAI has mentioned that it can additionally double its revenue to more than $4 billion by 2025. The estimate is based on customers' keenness to adopt OpenAI's tools as the world opens up to the potential of artificial intelligence. The long-term goals of OpenAI entail developing 'artificial general intelligence.' It is a term that is frequently used to denote AI models that can perform diverse tasks and learn new skills just like a human being.