- OpenAI aims for $3.4 billion annualized revenue in 2024.
- Its products and services generate $3.2 billion revenue tsunami.
- However, deep-pocketed rivals like Google, Reka AI, and Mistral AI pose fierce challenges.
Revenue gusher
Breaking records, OpenAI eyes a staggering $3.4 billion in annualized revenue for 2024. CEO Sam Altman shared these jaw-dropping figures during an all-hands meeting, sources reveal. This meteoric rise doubles the $1.6 billion revenue reportedly achieved late last year.
Unsurprisingly, OpenAI’s products and services generate the lion’s share – a whopping $3.2 billion – of this revenue tsunami.
Additionally, offering AI models through Microsoft Azure contributes a cool $200 million to the coffers.
Heavyweight contenders enter the ring
However, OpenAI’s dominance faces fierce challenges from deep-pocketed rivals. Google unleashed its latest AI models, while the upstart Reka AI flexed its muscles.
Elon Musk’s xAI seeks a $24 billion valuation through fresh funding. Meanwhile, Mistral AI announced a $640 million raise at a $6 billion valuation. Even Apple joined the fray, embedding AI tools within its product lineup.
Not resting on its laurels, OpenAI rolled out GPT-4o, its advanced AI model. Yet, this powerful tool comes equipped with its own set of obstacles to overcome.
To read the original article https://www.techinasia.com/openai-closes-34b-annualized-revenue-report
