ChatGPT becomes a "money printing machine"! OpenAI's annual recurring revenue surpasses $10 billion.

Less than three years after launching the phenomenal product ChatGPT, OpenAI has achieved an annual recurring revenue (ARR) of $10 billion. This milestone performance data covers the company's three main business segments: consumer products, ChatGPT enterprise products, and Application Programming Interface (API) services. According to an OpenAI spokesperson, this statistic does not include revenue from licensing agreements with Microsoft Corporation (MSFT.US) or significant one-time transactions. In comparison to last year's ARR of $5.5 billion, the tech newcomer based in San Francisco is expanding at an astonishing rate. However, this rapid growth comes with significant investments the company's operating loss last year was around $5 billion. According to sources, OpenAI has set a grand goal to achieve $125 billion in revenue by 2029. The impressive financial data serves as a testament to OpenAI's astonishing valuation. The $40 billion round of financing completed in March set a record in the technology sector for private fundraising. Based on current revenue, the company's valuation multiple is as high as 30 times, reflecting the strong confidence of top investors such as Softbank (SFTBY.US), Microsoft Corporation, Coatue, Altimeter, and Thrive in its high-speed growth. Since the launch of the ChatGPT consumer version at the end of 2022, OpenAI quickly expanded into the enterprise market the following year. The latest data shows that as of late March, their global weekly active users surpassed 500 million. The number of paid enterprise users, announced this month, skyrocketed from 2 million in February to 3 million.