OpenAI achieves a revenue pace of $1 billion due to increased AI spending by large companies

OpenAI, the Microsoft-backed artificial intelligence firm, is on track to generate over $1 billion in revenue over the next 12 months, far exceeding its previous predictions, according to an insider. The company, which was valued at $27 billion earlier this year, is producing more than $80 million in monthly revenue, a significant increase from its $28 million revenue last year. The revenue boost indicates an increasing use of OpenAI’s conversational text technology by app developers and businesses to generate profit or cut costs.