Over the past few months, OpenAI has been in discussions with potential investors worldwide, including Microsoft, Apple, Nvidia, Tiger Global, and MGX, for its latest investment round, which values the company at $150 billion. Today, The New York Times reported some details from the pitch deck OpenAI presented to these potential investors.
First and foremost, OpenAI is still experiencing exponential growth. As of June, over 350 million people were using OpenAI’s services every month, up from 100 million monthly active users in March. OpenAI saw staggering growth in ChatGPT after allowing users to utilize the service without creating an account or logging in. In fact, OpenAI expects ChatGPT to generate $2.7 billion in revenue this year, up from $700 million in 2023.
Overall, OpenAI’s monthly revenue is now at $300 million, a 1,700 percent increase since the beginning of 2023, and the company anticipates about $3.7 billion in annual sales this year. In 2025, OpenAI estimates its revenue will increase to a mind-boggling $11.6 billion, representing roughly 300% year-over-year growth.
Currently, OpenAI has about 10 million ChatGPT Plus customers paying $20 per month, and the company plans to increase the subscription price by 10% to $22 per month by the end of this year. According to internal documents, OpenAI will increase its subscription cost to $44 per month over the next five years. Furthermore, OpenAI expects its revenue to hit $100 billion in 2029.
Earlier this week, three key executives announced their departure from OpenAI: Mira Murati, Chief Technology Officer; Barret Zoph, Vice President of Research (Post-Training); and Bob McGrew, Chief Research Officer. Additionally, reports indicate the company is planning to transition to a fully for-profit company.
OpenAI"s impressive growth trajectory and ambitious revenue projections highlight its potential in the AI market. However, the company must navigate challenges like executive departures and the complexities of transitioning to a fully for-profit structure to sustain its success.
Source: The New York Times