October 10, 2023
1 min read

ChatGPT’s revenue growth slows down

Around 15.6 million people downloaded OpenAI’s ChatGPT app in September. The official ChatGPT app from OpenAI has been on the App Store since May and Google Play since July…reports Asian Lite News

OpenAI’s ChatGPT is seeing a slow down in its revenue growth, an indication that the AI chatbot is nearing saturation in terms of how many users are willing to pay for its paid service.

According to data from market intelligence firm Appfigures, ChatGPT was witnessing more than 30 per cent revenue growth in the last couple of months but now, the rate at which revenue grew is actually the lowest to date at just 20 per cent (as of September).

Although 20 per cent growth is still “amazing especially when we’re looking at millions, it’s lower than the previous months which were in the 30s,” the report noted.

The upgraded ChatGPT+ subscription service costs $19.99 per month that offers faster response times, priority access at peak times and early access to new features and improvements.

“Our estimates show ChatGPT earned $3.2 million in September from the App Store and Google Play. That is net which means what OpenAI gets to keep after Apple and Google take their fees,” Appfigures said in its report.

Around 15.6 million people downloaded OpenAI’s ChatGPT app in September. The official ChatGPT app from OpenAI has been on the App Store since May and Google Play since July.

The report said that with a few small tweaks, OpenAI can easily increase that conversion rate and see much faster revenue growth. Last month, OpenAI said it expected to reach $1 billion in revenue in 2023.

The cost of running ChatGPT is prohibitively high for the company. According to an analysis from Bernstein analyst Stacy Rasgon, each enquiry costs about 4 US cents.

If ChatGPT queries grew to a tenth the size of Google searches, it would require about $48.1 billion in GPUs initially and around $16 billion in chips per year to remain functioning. Sam Altman-run OpenAI is also reportedly raising funds at a valuation of $80-$90 billion via sale of existing shares.

ALSO READ-ChatGPT shows promise for effective psychotherapy

Previous Story

India likely to see 70-75% growth in 5G smartphone shipments

Next Story

Zoho launches smart conference room solution

Latest from LITE BLOGS

Cool, Crisp Summer Salads

As temperatures soar, refreshing summer salads take centre stage on our plates. Packed with hydration, flavour, and colour, these simple recipes are ideal for quick meals, healthy snacks, or side dishes at

Kiran Rao Celebrates Cinema

The jury is chaired by Oscar-winning Italian filmmaker Giuseppe Tornatore, best known for the iconic Cinema Paradiso Filmmaker Kiran Rao, fresh off the critical acclaim of her directorial Laapataa Ladies, has brought

Kaalidhar’s Journey Begins Again

Set in the heartlands of rural India, the story follows Kaalidhar (played by Bachchan), an elderly man who discovers that his family is planning to abandon him. Rather than confront them, he

RajaSaab Eyes 1000 Crores

The recently unveiled teaser shows Prabhas in two contrasting looks — one bursting with charisma, energy, and style, and the other hinting at a supernatural or cursed past Director Maruthi is brimming

Playful Parenting, Indian Style

Whether your child goes to school, is homeschooled, or is exploring alternative learning paths, Parenting with a Smile offers practical ideas, heartfelt stories, and accessible steps If you’ve ever searched “how to
Go toTop

Don't Miss

New AI tech to pick donor organs for transplant

The OrQA assessment will majorly look for damage, pre-existing conditions

Fake ChatGPT apps exploiting users

While OpenAI provides basic ChatGPT functionality to users for free