OpenAI’s ChatGPT, the popular AI chatbot, has been on a meteoric rise in terms of both downloads and revenue. As of September, the AI chatbot has reached an astounding 23 million downloads, according to reports.
In May, just one month after its release on the Apple App Store, ChatGPT had already crossed 3.9 million downloads. By June, this number had surged to an impressive 15.1 million, as per an analysis of the AI app market by Apptopia, reported by TechCrunch.
However, the growth story doesn’t stop at downloads alone. ChatGPT’s usage on mobile devices has seen a phenomenal increase, skyrocketing from just over 1.34 million monthly active users in May to a staggering 38.88 million by September.
What’s equally impressive is the revenue generated by ChatGPT’s mobile app. The report highlights that the app is outpacing many competitors in the AI chatbot market by consumer spending. It started with $352,929 in revenue during the month of its launch and surged to $1.98 million as of September. Furthermore, by October 24, it had reached an astonishing $2.39 million in revenue.
OpenAI, the developer behind ChatGPT, is set to make a substantial $1.3 billion in revenue this year, as stated by CEO Sam Altman. This remarkable figure demonstrates the immense growth of the company, particularly as OpenAI generated just $28 million in revenue for the entire year of 2022.
According to reports, the company’s revenue growth can largely be attributed to subscriptions for its conversational chatbot. OpenAI introduced a paid version of ChatGPT in February, which has proven to be highly successful.
In addition to its impressive financial performance, OpenAI is reportedly in the process of raising funds through the sale of existing shares at a valuation estimated to be between $80 billion and $90 billion. This valuation reflects the immense confidence and investment in the future of AI and OpenAI’s role in shaping it.
The growth of ChatGPT and OpenAI’s success is a testament to the increasing demand for AI-powered chatbots and the company’s innovative approach to delivering advanced conversational AI solutions to a global audience.