This gem came in my inbox this morning from The Information:

Still, OpenAI’s business dwarfs competitors like Cohere and Mistral. OpenAI is expecting to more than triple revenue this year, from $3.7 billion to $12.7 billion, we scooped Friday. OpenAI told investors that it forecasts most of its revenue for the next two years to come from ChatGPT—showing how lucrative the market for AI applications can be.

OpenAI is probably still burning cash, but this type of revenue increase shows the demand for AI. Not only that, it is a proxy for the value people see in it. You don’t plop down $240 – $2,400 annually just for the “fun” of talking to an LLM.

OpenAI is also seeing this huge increase from ChatGPT, the online application version of their LLMs, which is different the paying for API access to their LLMs.