OpenAI hits $2bn revenue milestone, looks for investors in UAE

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Microsoft-backed OpenAI hit the $2bn revenue milestone in December, the Financial Times reported on Friday, citing two people with knowledge of the artificial intelligence (AI) start-up’s finances.

OpenAI believes it can more than double this figure in 2025, based on strong interest from business customers seeking to use its technology to adopt generative AI tools in the workplace, the report said.

Microsoft and OpenAI did not immediately reply to Reuters’ request for comment.

ChatGPT drives OpenAI revenue

The company’s annualised revenue topped $1.6bn in December based on strong growth from its ChatGPT product, up from $1.3bn as of mid-October, the Information had reported previously.

Investors have valued the San Francisco-based startup at more than $80bn.

OpenAI chief Sam Altman is in talks with investors, including the UAE, to raise funds for a tech initiative to boost the world’s chip-building capacity and expand its ability to power AI, among other things, the Wall Street Journal reported late on Thursday.