ChatGPT inches towards $1 billion in revenue: Report

OpenAI's ChatGPT may generate $1 billion in annual revenue over the next 12 months, reported The Information. As per the report this surge is driven by soaring demand from businesses seeking AI solutions.

This projection outpaces the company's own revenue forecast of $200 million in revenue. As per the report, the Microsoft-backed company is generating more than $80 million in revenue per month, compared to just $28 million in the entire last year.

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OpenAI opened thier chatbot to the public in November last year. The company got a substantial boost after its partnership with Microsoft earlier this year, involving a multi-billion-dollar investment. This transaction reportedly valued OpenAI at an impressive $27 billion.

Besides ChatGPT, OpenAI makes money by selling API access to its AI models for developers and enterprises directly and through a partnership with Microsoft.