OpenAI's annual revenue soars past $1.6 billion in 2023
What's the story
OpenAI has announced a whopping $1.6 billion in annualized income for 2023, a significant increase from $1.3 billion in October, per The Information.
This financial success is largely due to ChatGPT, OpenAI's popular AI chatbot powered by an in-house large language model.
The news comes on the heels of a turbulent period for the artificial intelligence research firm, involving the sudden firing and subsequent reinstatement of CEO and co-founder Sam Altman.
Details
Ouster and return leave questions unanswered
The circumstances surrounding Altman's dismissal remain murky, as the OpenAI board briefly ousted him this November, only to face strong opposition from the company's employees.
Although Altman was quickly reinstated as CEO, questions linger about the reasons for his removal, with some pointing out the mysterious Project Q*.
The board vaguely accused Altman of not being transparent about work in his communications.
Altman opened up about his firing and return during a podcast interview with late-night host Trevor Noah.
Scenario
Altman recounts firing experience and impact on him
In the podcast, Altman shared that he was in a Las Vegas hotel room attending the Formula 1 Grand Prix when he got the shocking call about his dismissal on November 17.
He described feeling bewildered, overwhelmed, and in a daze. His phone became virtually unusable due to the barrage of messages and calls he received, including from Microsoft.
Altman acknowledged that the ordeal took a toll on him but remains optimistic about bouncing back.
Plans
OpenAI is eyeing a $100 billion valuation
OpenAI is in discussions for a new funding round that could value the company at over $100 billion, potentially making it the second-most valuable start-up in the US after Elon Musk's SpaceX.
The talks follow a recent tender offer by Thrive Capital, valuing OpenAI at $86 billion.
This recent development showcases the sustained interest and confidence from investors in OpenAI's groundbreaking work, particularly in AI language models like GPT-4.