• Membership
  • Advert Rates
  • Careers
  • About Us
  • Contact Us
  • Digital Store
Sunday, June 1, 2025
The Trumpet Newspaper Nigeria
No Result
View All Result
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition
No Result
View All Result
The Trumpet Newspaper Nigeria
No Result
View All Result
ADVERTISEMENT
Home News

OpenAI losses $5billion in 2024 on $3.7billion revenue

Revenues projected to hit $11.6billion in 2025

Edu Abade by Edu Abade
November 15, 2024
in News, Tech
Reading Time: 2 mins read
0
OpenAI loses $5billion in 2024 on $3.7billion revenue
0
SHARES
17
VIEWS
Share on FacebookShare on TwitterShare on LinkedinShare on WhatsAppShare on Pinterest
OpenAI, the creator of ChatGPT, expects about $5 billion in losses on $3.7 billion in revenue this year, CNBC has confirmed.

The company generated $300 million in revenue last month, up 1,700 percent since the beginning of last year and expects to make $11.6 billion in sales next year, according to sources close to OpenAI who pleaded anonymity because the numbers are confidential.

The New York Times first reported OpenAI’s financials earlier on Friday, September 27, 2024 after reviewing the company’s documents, but CNBC hasn’t seen the financials.

ADVERTISEMENT

Following its Chief Executive Officer, Sam Altman’s hosting of the company’s annual meeting in Atlanta on December 11, 2023, OpenAI, which is backed by Microsoft, is currently pursuing a funding round that would value the company at over $150 billion, those familiar with the matter have told CNBC.

Thrive Capital is leading the round and plans to invest $1 billion, with Tiger Global planning to join as well.

Chief Financial Officer (CFO) of OpenAI, Sarah Friar told investors in an email, at the weekend, that the funding round is oversubscribed and will close this week. Her note followed a number of key departures, most notably technology chief, Mira Murati, who announced the previous day that she was leaving OpenAI after six and a half years.

Read Also: Rivers crisis: I won’t offer my kidney, liver as mark of loyalty – Gov. Fubara

Also this week, news surfaced that OpenAI’s board is considering plans to restructure the firm to a for-profit business. The company will retain its nonprofit segment as a separate entity, a person familiar with the matter told CNBC. The structure would be more straightforward for investors and make it easier for OpenAI employees to realize liquidity, the source said.

OpenAI’s services have exploded in popularity since the company launched ChatGPT in late 2022. The company sells subscriptions to various tools and licenses its GPT family of large language models, which are powering much of the generative AI boom. Running those models requires a massive investment in Nvidia’s graphics processing units.

The Times, citing an analysis by a financial professional who reviewed OpenAI’s documents, reported that the roughly $5 billion in losses this year are tied to costs for running its services as well as employee salaries and office rent. The costs don’t include equity-based compensation, “among several large expenses not fully explained in the documents,” the paper said.

Tags: $3.7billion revenueChatGPTOpenAIOpenAI loses $5billion
Previous Post

NBTE to approve 12 new skills under National Skills Qualifications (NSQ) at Akwa Ibom Polytechnic

Next Post

RIVCHPP Executive Secretary, team sensitize, enroll women for healthcare benefits

Edu Abade

Edu Abade

Next Post
RIVCHPP Executive Secretary, team sensitize, enroll women for healthcare benefits

RIVCHPP Executive Secretary, team sensitize, enroll women for healthcare benefits

About The Trumpet

The Trumpet is a Nigerian based national news media, owned, trademarked and operated by Elomaz Communications Limited with headquarters in FCT-Abuja and regional offices in Lagos and Delta States

Follow Us

Resources

  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition

Recent News

LinkedIn lays off 281 employees across California as Microsoft’s AI strategy reshapes workforce

LinkedIn lays off 281 employees across California as Microsoft’s AI strategy reshapes workforce

May 31, 2025
Delta polytechnic rector urges 53,432 graduands on being institution's loyal ambassadors

Delta polytechnic rector urges 53,432 graduands on being institution’s loyal ambassadors

May 31, 2025
  • Cookie Policy
  • Disclaimer
  • Contact us
  • About Us
  • Cookie Policy
  • Disclaimer
  • Contact us
  • About Us

© 2025 The Trumpet News Papers - Developed by VIS Nigeria.

No Result
View All Result
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition

© 2025 The Trumpet News Papers - Developed by VIS Nigeria.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
Go to mobile version
Verified by MonsterInsights