AI

OpenAI hits new milestone with 1M paying business users across enterprise services

Artificial intelligence company OpenAI has hit a new milestone, surpassing 1 million paying business users across its enterprise offerings, as the company continues to lead the rapidly growing generative AI market.

According to Bloomberg, the figure includes the total number of people who have signed up to use ChatGPT Team and Enterprise services — both of which are aimed at companies — as well as people at universities using its ChatGPT Edu product. Notably, the 1 million figure is up from the 600,000 paying corporate users in April, not including the Edu service that launched in May.

ChatGPT Enterprise was launched in August 2023 and provides unlimited access to Advanced Data Analysis, a data science tool originally known as Code Interpreter that allows users to run mathematical calculations, visualize the results and change the format of files using natural language commands. At the time, it was noted that the Enterprise version offered double the performance of the standard version of ChatGPT, giving users faster responses to their prompts.

OpenAI followed up with the launch of ChatGPT Team in January, an offering that is similar to the company’s ChatGPT Plus consumer offering but for companies. The main differing feature with the offering is support for teams, hence the name, with users given access to a dedicated collaborative workspace where they can work with others.

Though 1 million paying corporate users may not seem to be a particularly large number, the market barely existed three years ago and there’s unlikely another dedicated AI company that comes close in terms of numbers.

All of those paying customers help OpenAI’s bottom line and, though new technologies are costly, OpenAI has taken it to new levels, burning through billions, having already raised $11.3 billion in venture capital funding, with more on its way.

As reported on Aug. 28, OpenAI is seeking to raise billions in additional funding at a valuation in excess of $100 billion. According to reports earlier this year, the company could lose as much as $5 billion this year and needs the extra funding before it runs out of money — a somewhat remarkable consideration given how much it has already raised.

In the long term, OpenAI can’t burn money forever and getting paid customers through the door is key to addressing the issue.

Photo: Focal Foto/Flickr