Sam Altman tells employees: OpenAI to earn $3.4 billion, revenue has doubled - Hindustan Times
close_game
close_game

Sam Altman tells employees: OpenAI to earn $3.4 billion, revenue has doubled

Jun 13, 2024 10:24 PM IST

OpenAI will also generate about $200 million by offering access to its AI models through Microsoft Azure.

OpenAI is set to earn $3.4 billion in annual revenue, Chief Executive Officer Sam Altman reportedly told the company’s staff in a meeting. Sam Altman said that most of the revenue- almost $3.2 billion- is from OpenAI’s products and services, people in the know said as per a report in The Information. OpenAI will also generate about $200 million by offering access to its AI models through Microsoft Azure, the report claimed. 

Sam Altman, chief executive officer of OpenAI, during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US.(Bloomberg)
Sam Altman, chief executive officer of OpenAI, during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US.(Bloomberg)

Read more: Sam Altman says OpenAI doesn’t completely understand how GPT works: ‘We don’t know what’s happening’

Earlier, it was reported that OpenAI's annualized revenue was $1.6 billion in late 2023. This comes as OpenAI completed a tender offer valuing the startup at $86 billion while its ChatGPT has become a driving force in the development of AI. The company has been working to boost revenue from its AI products by selling services to enterprise customers. 

Read more: OpenAI CEO Sam Altman on Apple-ChatGPT integration: ‘Very happy to partner with Apple'

It has also begun training a more powerful AI model that could help it stay ahead of a growing number of rivals. The startup also hired Sarah Friar, former chief executive of neighborhood social networking service Nextdoor Holdings Inc., to serve as its chief financial officer.

OpenAI- Apple deal 

Read more: Elon Musk joked about spanking SpaceX coworkers, ‘evaluated women's bra size'

OpenAI CEO Sam Altman also reacted to the integration of ChatGPT into Apple devices which is expected later this year and said, "Very happy to be partnering with Apple to integrate ChatGPT into their devices later this year! Think you will really like it.”

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Stay updated with the latest Business News on Petrol Price, Gold Rate, Income Tax Calculator along with Breaking News Events and Latest News Updates on Hindustan Times.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, July 25, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On