Sam Altman’s shock firing and surprising reinstatement as the CEO of OpenAI, raised concerns about the AI startup’s financials. However, the American AI company will be earning more than previously expected.
So, it is safe to say that the turmoil at OpenAI did not stop the Altman-led technology startup’s annualised revenue from topping $1.6 billion, up from $1.3 billion as of mid-October.
This is a remarkable 20 per cent surge in just two months. Insiders familiar with the situation shared these revenue statistics with The Information.
Notably, ChatGPT has seen a continuous climb in user subscriptions since its launch in February of this year. Last week, Bloomberg reported that OpenAI is in early talks to raise a new round of funding at a valuation at or above $100 billion.
OpenAI is in talks with G42
However, the identities of potential new partners are still a mystery. Aside from this, the company is reportedly prepping to make its foray into the custom chip market in collaboration with Abu Dhabi-based AI company G42.
🚀 OpenAI eyes $100B+ valuation in new funding round. 💰 G42 in talks for $8-10B chip project investment. Microsoft’s $10B pledge, ChatGPT’s influence. Employee share sale at $86B valuation. Ongoing tech advancements drive OpenAI’s innovation. 🌐🤖 #OpenAI #AIInnovation pic.twitter.com/grrkV8Ql7S
— IT Voice Media (@itvoice) December 26, 2023
OpenAI is expected to secure an initial funding ranging between $8 and $10 billion as part of this partnership. If the $100 billion valuation round comes to fruition, market research firm CB Insights suggests OpenAI will become the United States’ second most valuable startup. So. the AI company will be trailing only behind Elon Musk’s SpaceX.
Moreover, OpenAI will reportedly complete a separate tender offer led by Thrive Capital in early January. This will enable employees to sell shares at a valuation of $86 billion.
