OpenAI on track to generate more than $1 billion revenue over 12 months

OpenAI is on track to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and computing capacity that powers it, The Information reported on Tuesday.

Earlier, the ChatGPT maker projected $200 million in revenue for this year.

The Microsoft-backed company is generating more than $80 million in revenue per month, compared to just $28 million in the entire last year, the report added.

OpenAI did not immediately respond to a Reuters request for comment.

Besides ChatGPT, it makes money by selling API access to its AI models for developers and enterprises directly and through a partnership with Microsoft, which invested over $10 billion into the company in January.

ChatGPT, known for producing prose or poetry on command, has gained widespread attention in Silicon Valley as investors see generative AI as the next big growth area for tech companies.