The research company OpenAI plans to earn $200 million in 2023 and $1 billion in 2024. It intends to do so at the expense of companies that use its technology, Reuters reported, citing materials prepared for a meeting with investors.
According to the company's website, OpenAI charges developers about $0.01 for generating 20,000 words of text and about $0.04 for creating an image on demand. Some startups partnering with OpenAI are building their own AI applications based on its technology and offering video and text generation services for other companies.
Jasper is one of the startups creating applications based on OpenAI technology. The startup has recruited 80,000 marketers to develop ads, emails, blogs and other content using its software. Revenue is expected to grow to $80m this year. Gil Elbaz, co-founder of TenOneTen Ventures, told Reuters that marketing is one of the leading uses of chatbots. App developers will benefit more if technologies like OpenAI become a commodity, according to Alan Cowan, chief executive of research startup Hume AI and former Google researcher.
According to Brad Smith, president of Microsoft, which has invested $1bn in OpenAI, AI is developing faster than many predicted.
"In 2023 we will see advances that people weren't expecting until 2033 at the earliest two years ago. It will be very important not only for Microsoft, but for the future of everyone," he said.
A spokesman for OpenAI would not comment on the company's strategy and financials but, according to one agency source, OpenAI was recently valued at $20bn in a secondary share sale. CEO and co-founder Sam Altman described the company's operating costs as "staggering".
Some investors have so far been sceptical: according to Reuters, some big venture capital firms have declined to back OpenAI this year, unsure whether it can justify a high valuation or compete with giants such as Google.
Others, on the other hand, are planning to up the ante. In particular, Microsoft is mulling increasing its stake in OpenAI, sources tell Reuters. The company hopes to encourage the use of AI for business through Microsoft's cloud services.
