OpenAI is expected to far exceed previous revenue projections next year, generating more than $1 billion in revenue, according to The Information.
OpenAI is expected to generate more than $1 billion in revenue over the next 12 months, The Information reported, citing an internal source. That figure is well above the estimates OpenAI had previously given investors.
Prior to the launch of ChatGPT, the company projected revenue of just $28 million in 2021. The estimate implies that OpenAI is currently generating more than $80 million in revenue per month.
OpenAI’s technology is already being used by many companies
The growth suggests that companies are finding commercial applications for OpenAI’s conversational AI technology. App developers and companies like Wall Street firm Jane Street appear to be using the technology to make or save money, according to The Information.
Other OpenAI customers include Zoom, Stripe, Notion, and Databricks. Microsoft uses OpenAI technology in Office 365, Bing Chat, GitHub Copilot and more.
Just a few days ago, it also launched ChatGPT Enterprise, an enterprise version of the chatbot that promises privacy and direct connectivity to enterprise software – competing with Microsoft’s offerings.
Trend towards customized AI assistants for enterprises
So the trend is increasingly toward customized AI assistants for enterprises that can use them e.g. to quickly analyze data, inform trades, and add value, as in the case of Jane Street. Citadel is another high-frequency trading firm that has approached OpenAI and others about integrating the technology into its business.
Whether OpenAI can keep such high-profile clients for long remains to be seen: Jane Street recently hired David So, who previously spent eight years at Google and helped develop language models such as PaLM-2 and the Bard chatbot, according to The Information. The hire could be seen as a sign that the company is investing more in developing its own language models.