OpenAI expecting $5 billion in losses in 2024

OpenAI which has led to the foundation of ChatGPT is expecting losses of around $5 billion with $3.7 billion revenue this year, as per sources. In the previous month, around $300 million revenue has been generated by the company witnessing an increase of 1700% since the start of the past year. It is estimated to generate around $11.6 in sales as per OpenAI sources.

It has been reported by a financial professional reviewing documents of OpenAI that the $5 billion losses are arising out of operational costs, office rent and employee salaries and does not include compensation based on equity.

At present OpenAI is looking at a funding round that will value the company at over $150 billion and is considering plans for restructing the organisation to a for-profit business firm.

Also Read: Apple in talks to invest in OpenAI, eyes $100 bn valuation in major AI push