OpenAI is on track for $3.4 billion in annual revenue, CEO Sam Altman announced during an all-hands meeting. The majority of this revenue, about $3.2 billion, stems from OpenAI's products and services. Additionally, the company is set to generate around $200 million by offering access to its AI models via Microsoft Azure.

OpenAI has become a major player in AI development, driven by the viral success of ChatGPT. The company's recent tender offer valued it at $86 billion. To increase revenue, OpenAI is focusing on selling AI services to enterprise customers and is also developing a more powerful AI model to stay ahead of competitors. In a strategic move, OpenAI recently appointed Sarah Friar, former CEO of Nextdoor Holdings Inc., as its chief financial officer.