Chat GPT | FT: Open AI's turnover is already approaching two billion dollars

Artificial intelligence the annual turnover of the company that develops Open AI has grown to two billion dollars, says the British newspaper Financial Times (FT). That means around 1.9 billion euros.

According to the magazine's anonymous sources, the company's annualized turnover exceeded two billion dollars in December of last year.

The flagship product of the US start-up company is the artificial intelligence application Chat GPT.

According to the FT's sources, the company believes it will be able to more than double the turnover figure this year, as business customers have shown strong interest in using generative AI tools in the workplace.

According to the American technology publication The Information, the annual turnover of Open AI was 1.3 billion dollars in October of last year. The growth rate has since accelerated.

Open AI's the growth rate is so fast that, according to FT, it is one of the fastest growing technology companies in the history of the world.

Only Meta, the parent company of Google and Facebook, and less than ten other technology companies have grown their turnover to over one billion euros in the ten years since they were founded.

Open AI was founded in 2015 as a non-profit research project. The company established its business unit in 2020 and launched its popular Chat GPT app in November 2022.

The company has said that last November, more than 90 percent of the largest US companies used either Chat GPT or the GPT-4 AI model behind the app.

Chat GPT reportedly had more than one hundred million weekly users at the same time.

Despite the rapid growth, Open AI is losing money due to the rapid increase in the development and operating costs of artificial intelligence models. The company is expected to need more funding to develop even more advanced artificial intelligence models.