TECHNOLOGY

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TECHNOLOGY

OpenAI's 2023 revenue reaches $1.6bn

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Details

OpenAI has announced a whopping $1.6 billion in annualized income for 2023, a significant increase from $1.3 billion in October.

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Reason

The financial success is largely due to ChatGPT, OpenAI's popular AI chatbot powered by an in-house large language model.

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Scenario

The news comes on the heels of a turbulent period for the artificial intelligence research firm, involving the sudden firing and subsequent reinstatement of CEO and co-founder Sam Altman.

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$100 billion valuation talks

OpenAI is also in talks for a funding round that could value it at over $100 billion, potentially making it the second-most valuable US start-up.

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Thrive Capital's offer

The recent funding talks follow Thrive Capital's tender offer, which valued OpenAI at $86 billion.