Approximately $5 billion in losses is projected for OpenAI this year, despite generating $3.7 billion in revenue.

• The New York Times reported that OpenAI is projected to lose $5 billion on $3.7 billion in revenue this year, which has been confirmed by CNBC.
• It has been confirmed that revenue will increase to $11.6 billion next year.
• Microsoft-backed OpenAI is currently seeking funding with a valuation of over $150 billion.

CNBC has confirmed that OpenAI, the developer of ChatGPT, anticipates a loss of approximately $5 billion on $3.7 billion in revenue this year.

Last month, the company generated $300 million in revenue, a 1,700% increase from the beginning of last year, and is projected to bring in $11.6 billion in sales next year, according to a source close to OpenAI who requested anonymity due to the confidentiality of the figures.

Earlier on Friday, The New York Times was the first to report on OpenAI's financials after viewing company documents. CNBC has not seen the financials.

Microsoft-backed OpenAI is currently seeking a funding round that could value the company at over $150 billion, with Thrive Capital leading the round and planning to invest $1 billion, and Tiger Global also joining in.

OpenAI CFO Sarah Friar informed investors in an email on Thursday that the funding round has been oversubscribed and will be completed by next week. This announcement came after several key departures, including technology chief Mira Murati, who announced her departure from OpenAI after six and a half years.

This week, it was reported that OpenAI's board is considering restructuring the company as a for-profit business while keeping its nonprofit segment as a separate entity. The new structure would simplify the company's operations for investors and enable OpenAI employees to access liquidity more easily, according to a source.

Since the launch of ChatGPT in late 2022, OpenAI's services have experienced a surge in popularity. The company offers subscriptions to various tools and licenses its GPT family of large language models, which are driving the generative AI boom. To run these models, a significant investment in graphics processing units is necessary.

According to The Times, a financial expert who examined OpenAI's records reported that the company's $5 billion losses this year are due to expenses related to running its services, employee salaries, and office rent. However, the report did not provide a detailed explanation of other significant expenses, such as equity-based compensation.

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