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International Business Times

Bruce Golding

OpenAI Suffers $5 Billion Annual Loss On $3.7 Billion In Revenue: Reports

OpenAI Charles Kushner CNBC Donald Trump Mira Murati

OpenAI CEO Sam Altman speaks in New York City on Sept. 23, 2024. (Credit: BRYAN R. SMITH/POOL/AFP via Getty Images)

The nonprofit artificial intelligence developer that created ChatGPT expects to lose about $5 billion this year as it seeks $7 billion in new funding to turn its core business into a for-profit corporation.

OpenAI's monthly revenue reached $300 million in August, up 1,700% since the start of 2023, and it projects about $3.7 billion in sales this year, the New York Times reported Friday, citing financial documents given to potential investors.

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