OpenAI Passes $1 Billion Revenue Pace as Big Companies Boost AI Spending

OpenAI is currently on pace to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and the computing capacity that powers it. That’s far ahead of revenue projections the company previously shared with its shareholders, according to a person with direct knowledge of the situation.

The billion-dollar revenue figure implies that the Microsoft-backed company, which was valued on paper at $27 billion when investors bought stock from existing shareholders earlier …

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