OpenAI, valued at $86 billion by investors, disclosed its income in a Form 990 filed with the Internal Revenue Service. The artificial intelligence startup earned just $44,485 last year, raising questions about the transparency of its finances. The earnings data came to light thanks to the Form 990 that OpenAI provides to tax authorities. The nonprofit organization has avoided filing audited returns in California, citing income below $2 million.
Contrary to claims of transparency, OpenAI's financials remain murky. The startup turned into a limited-profit organization in 2019, raising billions in investment and launching ChatGPT, which gained popularity. According to The Information, OpenAI's revenue in 2022 was $28 million and is expected to approach $1 billion in 2023.
This information came to light after the reset of CEO Sam Altman, who was reinstated after his resignation. A spokesperson for OpenAI did not comment on questions about the possible relinquishment of its nonprofit status.
Overall, while the startup is valued at an impressive amount, the lack of transparency in financial reporting raises questions about its operations. The correlation between the company's valuation and its actual revenue creates dissonance and emphasizes the uncertainty surrounding its financial position.
