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International Business Times UK

Business

Vinay Patel

ChatGPT Fuels OpenAI's £7.3 Billion Boom: Here's How They're Cashing In

OpenAI ChatGPT Microsoft

OpenAI, once a non-profit, has soared to a $10 billion (£7.39 billion) annual recurring revenue, largely powered by its flagship ChatGPT. (Credit: Pexels)

The launch of ChatGPT has heralded a new era for artificial intelligence, propelling OpenAI to unprecedented financial heights. With a staggering $10 billion (£7.39 billion) valuation now firmly established, the question arises: how exactly is this innovative company converting its technological prowess into such significant commercial success?

Barely three years after the release of its wildly popular ChatGPT chatbot, OpenAI has reached an astounding $10 billion (£7.39 billion) in annual recurring revenue (ARR). This revenue includes earnings from the company's consumer offerings, business solutions for ChatGPT, and API.

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