Data obtained by Finbold has found that OpenAI achieved a financial milestone in the full year of 2023, surpassing the one billion dollar mark for the first time and reaching $1.6 billion in revenue.
According to an official release, this figure represents a year-over-year (YoY) increase of 700%, or eight times, soaring from the $200 million recorded in 2022. In 2021, the company seemingly reported revenues amounting to $34 million. Since the commencement of revenue recording, 2020 is believed to have marked the lowest figure at $3.48 million. Reportedly, OpenAI’s initial recorded revenue was in 2016 at $13.81 million.
“The recorded revenues highlight OpenAI’s strategic consolidation of its position in the market, and its rise can be viewed as an extraordinary feat. OpenAI’s substantial increase in revenue is closely tied to the success of the company’s product, ChatGPT, in the generative AI landscape. The tool has widespread adoption across various sectors, from customer service to content creation, streamlining operations, and enhancing user experiences,” the report mentioned.
