OpenAI claims to have hit $10B in annual revenue

OpenAI says it recently hit $10 billion in annual recurring revenue, up from around $5.5 billion last year.

That figure includes revenue from the company’s consumer products, ChatGPT business products, and its API, an OpenAI spokesperson told CNBC. Currently, OpenAI is serving more than 500 million weekly active users and 3 million paying business customers.

The revenue milestone comes roughly two and a half years after OpenAI launched its popular chatbot platform, ChatGPT. The company is targeting $125 billion in revenue by 2029.

OpenAI is under some pressure to increase revenue quickly. The company burns billions of dollars each year hiring and recruiting talent to work on its AI products, and securing the necessary infrastructure to train and run AI systems. OpenAI has not disclosed its operating expenses or whether it is close to profitability.