According to Bloomberg, OpenAI, the company behind ChatGPT, is projected to generate $12.7 billion in revenue this year. This figure marks a significant increase compared to last year’s annual revenue of $3.7 billion. Previously, The New York Times reported that OpenAI was forecasting $11.6 billion in revenue for the current year.

Additionally, an anonymous source familiar with the matter revealed that OpenAI anticipates its revenue will continue to grow rapidly, reaching $29.4 billion next year. The source requested anonymity to discuss internal company information.

The growth in OpenAI's revenue can largely be attributed to the strong performance of its paid artificial intelligence software. A few months ago, the company introduced a new subscription tier priced at $200 per month, further boosting its revenue streams.