FILE PHOTO: OpenAI logo is seen in this illustration taken May 20, 2024. REUTERS/Dado Ruvic/Illustration/ File Photo
(Reuters) -ChatGPT-maker OpenAI roughly doubled its revenue in the first seven months of the year, reaching $12 billion in annualized revenue, the Information reported on Wednesday citing a source.
Reuters could not immediately confirm the report. OpenAI declined to comment.
The figure implies that OpenAI is generating $1 billion a month, the report said, adding that the company has around 700 million weekly active users for its ChatGPT products used by both consumers and business customers.
The Microsoft-backed company has increased its cash burn projection to roughly $8 billion in 2025, up $1 billion from the cash burn it projected earlier in the year, the Information said.
The firm has been lining up investors for the second $30 billion portion of its funding round, the report said, adding that shareholders Sequoia Capital and Tiger Global Management are investing hundreds of millions of dollars in the round.
Investors, besides Japan's SoftBank , are close to finalizing $7.5 billion in commitments to that second portion of funding, the report said.
The Japanese conglomerate's total agreed investment in OpenAI stood at $32 billion since first investing in Autumn 2024.
(Reporting by Gursimran Kaur in Bengaluru; Editing by Harikrishnan Nair)
