OpenAI's explosive growth continues, nearly doubling since December 2024, driven by surging global demand for ChatGPT.

What Happened: On Monday, OpenAI confirmed that its annualized revenue run rate reached $10 billion, up from $5.5 billion at the end of 2024, reported Reuters, citing a spokesperson.

The figure excludes licensing revenue from Microsoft Corporation (NASDAQ:MSFT) and any large one-time deals, focusing solely on recurring and direct income streams.

The company's flagship product, ChatGPT, has seen widespread adoption across both consumer and enterprise users, with 500 million weekly active users reported as of March, the report said.

See Also: Mark Zuckerberg Warns Of ‘Serious Disadvantage' As China's Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs

OpenAI has monetized the platform through multiple offerings, including ChatGPT Plus subscriptions and enterprise-level tools for businesses.

The update indicates OpenAI is on pace to reach its internal revenue goal of $12.7 billion for 2025. That would mark a dramatic financial turnaround for the company, which lost $5 billion in 2024, the report added.

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Why It's Important: In March, OpenAI said it plans to raise up to $40 billion in a new funding round led by SoftBank Group (OTC:SFTBF) (OTC:SFTBY), potentially valuing the company at $300 billion.

Earlier, it was reported that Anthropic, an AI startup backed by Amazon.com, Inc. (NASDAQ:AMZN) and Google, a subsidiary of Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), surpassed $3 billion in annualized revenue after hitting $1 billion in December 2024.

Anthropic currently holds a valuation of $61.5 billion after securing $3.5 billion in funding.

Benzinga’s Edge Stock Rankings indicate that Microsoft has a favorable outlook across the short, medium and long term. More in-depth metrics can be found here.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.