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OpenAI's target, 2 billion profits in the first decade

2024-02-13 10:20:38Lifestyle SHKRUAR NGA REDAKSIA VOX

OpenAI's target, 2 billion profits in the first decade

Just seven years after it was founded, OpenAI's annualized run rate, a measure of one month's revenue multiplied by 12, reached $2 billion in revenue by December 2023. This puts the artificial intelligence startup among a the small number of companies, including Google and Meta, that have made billions in revenue within just a decade of existence.

Google, specifically, took five years to make the first billion in revenue. Meanwhile, Meta reached its first billion in six years. In fact, one of the fastest companies to make its first billion wasn't a Big Tech name at all. Booking Holdings, which owns Booking.com and Kayak, generated $1 billion in just three years.

Launched in 2015, OpenAI began as a non-profit focused on building software that can replicate human intelligence and capabilities – what the company now defines as 'general artificial intelligence'. It was founded by a group of Silicon Valley titans including Sam Altman, Elon Musk, Peter Thiel and LinkedIn co-founder Reid Hoffman.

In November 2023, the San Francisco-based company launched its chatbot ChatGPT, which took the company to a high level of popularity and fueled the demand of companies, countries and industries for generative AI. The launch of ChatGPT also highlighted the rapidly growing potential of technology to be integrated into work and personal life. OpenAI, which has targeted enterprise companies, said more than 92% of Fortune 500 companies now use ChatGPT. The chatbot also has 100 million weekly users, according to the startup.

Building and running large AI models is expensive, and costs are expected to outpace revenue growth as OpenAI develops more powerful models. To understand the costs that go into building large AI models, the Wall Street Journal reported last week that Sam Altman wants to raise $7 trillion in funding for his AI chip project.

OpenAI also has a profit-sharing agreement with Microsoft, which has invested billions of dollars in the creator of ChatGPT. Microsoft said in October that 18,000 customers have purchased OpenAI software through its cloud platform, Azure.

More broadly, tech giants are starting to commercialize their AI products. Google last week announced that its state-of-the-art Gemini IA system can be accessed through a $20 per month premium subscription. Microsoft Copilot's AI assistant, meanwhile, starts at $30 per month.


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