(VOVWORLD) - Less than three years after debuting ChatGPT, OpenAI has reached 10 billion USD in annual recurring revenue (ARR), and is targeting 125 billion USD by 2029.
The figure includes sales from the company’s consumer products; ChatGPT business products; and its application programming interface, or API. It excludes licensing revenue from Microsoft and large one-time deals, according to an OpenAI spokesperson.
For all of last year, OpenAI had around 5.5 billion USD in ARR. Reaching its meteoric growth rates requires a substantial amount of cash. The San Francisco-based startup lost about 5 billion USD last year.
As of late March, OpenAI said it supports 500 million weekly active users. The company announced earlier this month that it has three million paying business users, up from the two million it reported in February.