OpenAI Doubled Annualized Revenue in 6 Months
OpenAI reportedly more than doubled its annualized revenue over the last six months or so.
The firm’s current annualized revenue is $3.4 billion, up from $1.6 billion in 2023, Bloomberg reported Wednesday (June 12), citing a paywalled article by The Information.
OpenAI did not immediately reply to PYMNTS’ request for comment.
This report comes two days after Apple announced a partnership with OpenAI in which OpenAI’s chatbot, ChatGPT 4o, will be integrated into iOS, macOS, iPadOS and to support Siri, with the user’s permission.
On the same day, Monday (June 10), OpenAI named a new chief financial officer (CFO) and a new chief product officer (CPO), saying it was making these additions as it prepares for its “next phase of growth.”
Sarah Friar, former CEO of Nextdoor, joined OpenAI as CFO, and Kevin Weil, former president, product and business at Planet Labs, joined the company as CPO.
When announcing these appointments in a press release, OpenAI CEO Sam Altman said: “Sarah and Kevin bring a depth of experience that will enable OpenAI to scale our operations, set a strategy for the next phase of growth and ensure that our teams have the resources they need to continue to thrive.”
The report of OpenAI’s leap in annualized revenue also comes at a time when three companies vying for the title of “World’s Most Valuable Company” are all companies that have benefited from the AI boom.
On Wednesday, Apple retook the title of “World’s Most Valuable Company” as its stock began to climb after the company rolled out a series of AI features for its devices.
Apple’s recent competitors for that title have also benefited from investors’ interest in AI.
Microsoft surpassed Apple as the world’s most valuable company earlier this year, thanks to its own investments in AI.
And last week, chipmaker Nvidia pushed Apple into third place and broke past the $3 trillion market cap mark as it also benefited from the AI boom.
In the case of Apple, the company’s dominant position in the U.S. phone market gives it an advantage in rolling out AI functionality because consumers may prefer to access the technology in that way.
