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

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)

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.

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

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.”