(Bloomberg) — OpenAI expects to more than triple its revenue this year to $12.7 billion, fueled by the strength of its paid artificial intelligence software, according to a person familiar with the matter.
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The San Francisco-based company generated $3.7 billion in annual revenue last year, said the person, who spoke on condition of anonymity to discuss internal communications. OpenAI expects revenue will continue growing at a fast clip, more than doubling next year to $29.4 billion, the person said.
OpenAI declined to comment. The New York Times reported in September that OpenAI was eyeing revenue of $11.6 billion for 2025.
In the two-plus years since OpenAI introduced its ChatGPT chatbot, the company has rolled out a range of subscription offerings for consumers and businesses. In September, OpenAI said it hit 1 million paid users for the corporate versions of ChatGPT. More recently, the company added a $200 monthly ChatGPT Pro option, with access to its most advanced AI models. OpenAI is also mulling charging thousands of dollars a month for certain AI products.
While revenue is soaring, OpenAI is also confronting significant costs from the chips, data centers and talent needed to develop cutting-edge AI systems. OpenAI does not expect to be cash-flow positive until 2029, the person said, a year when it projects revenue will top $125 billion.
OpenAI is in talks to raise as much as $40 billion in a funding round led by SoftBank Group Corp. at a valuation of up to $300 billion, Bloomberg News reported in January. The company has also been in talks with regulators to restructure from a nonprofit into a more conventional for-profit public benefit corporation.
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