OpenAI has earned its place among the fastest-growing technology companies ever after the ChatGPT developer’s revenue surpassed US$2 billion late last year.
Annualised revenue at the Microsoft-backed San Francisco start-up sat above the milestone in December, according to Financial Times-cited sources.
This was up on a total of US$1.6 billion previously reported by the Information, with October’s annualised revenue having sat at US$1.3 billion, as per the publication.
OpenAI’s rapid growth has been fuelled by the intense uptake of its ChatGPT models, which sparked a wider frenzy of artificial intelligence adoption after being released in late 2022.
As a result, OpenAI is set to join just a handful of technology firms, such as Google and Meta, to reach the US$1 billion revenue milestone within a decade of being founded, with the company initially having been set up as a not-for-profit AI research lab in 2015.
According to the sources, revenue could more than double in 2025 meanwhile, as the rise of artificial intelligence continues.