OpenAI is growing fast and burning through piles of money

OpenAI, the San Francisco startup behind ChatGPT, has been telling investors that it is making billions from its chatbot and that it expects to make a lot more in the coming years. But it has not been quite so clear about how much it is losing.

OpenAI’s monthly revenue hit $300 million in August, up 1,700% since the beginning of 2023, and the company expects about $3.7 billion in annual sales this year, according to financial documents reviewed by The New York Times. OpenAI estimates that its revenue will balloon to $11.6 billion next year.