OpenAI expects revenue to triple this year and more than double next year

OpenAI expects revenue to more than triple this year to $12.7 billion, driven by the strength of its paid artificial intelligence software, compared with its $3.7 billion revenue last year, according to a person familiar with the matter. In addition, OpenAI expects revenue to continue to grow rapidly, more than doubling to $29.4 billion next year. Since OpenAI launched ChatGPT more than two years ago, the company has launched a range of subscription services for consumers and businesses. Last September, OpenAI said the company's version of ChatGPT reached 1 million paid subscribers. While revenues have soared, OpenAI is also facing huge costs from the chips, data centres and talent needed to develop cutting-edge AI systems. OpenAI doesn't expect to turn cash flow positive until 2029, when it expects revenues to exceed $125 billion, the person familiar with the matter said.