OpenAI is on track for $1 billion of annual revenue as businesses adopt the technology behind ChatGPT, the generative AI bot that ignited a wave of artificial intelligence investment.

The startup backed by Microsoft Corp. is earning about $80 million of revenue monthly, a person briefed on the matter said, asking to speak anonymously about undisclosed figures. The Information first reported on OpenAI’s revenue, including that it lost around $540 million in 2022 developing GPT-4 and ChatGPT. A representative for the startup didn’t immediately respond to requests for comment outside normal business hours.

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OpenAI Nears $1 Billion of Annual Sales as ChatGPT Takes Off