OpenAI, which - was initially - backed by Elon Musk and - now - Microsoft, has gained significant attention with its latest release, ChatGPT.
According to Reuters, sources briefed on OpenAI's recent pitch to investors have reported that the company expects to generate $200 million in revenue in 2023 and $1 billion by 2024.
OpenAI generates income by charging developers to license its technology for generating text and images.
This has led to the creation of a new investment category called GenerativeTech, with investors such as James Currier from NFX showing interest in early-stage GenerativeTech ventures. However, not everyone agrees with these growth expectations. For more information on ChatGPT and how it works, you can read the linked article.
Source: Crunchbase
https://pitchbook.com/news/articles/generative-ai-hype-stability-jasper
ChatGPT: What it is and how does it work you can read here:
https://medium.com/geekculture/chatgpt-what-is-it-and-how-does-it-work-exactly-62e7010524d3
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