Chief financial officer admits 'we're open to exploring other revenue streams in the future'
OpenAI has ruled out running adverts on its platforms, for now at least, Chief Financial Officer Sarah Friar has toldWhile distasteful for users accustomed to the lofty ideals espoused by OpenAI during its early years, the move would make sense, considering reports the AI developer is trying to restructure as a for-profit entity.
There are paying subscribers to its services, yet given OpenAI's dominance in the generative artificial intelligence space, adding ads to some of its services may be tempting to the corporation's commercial strategists. "Our current business is experiencing rapid growth, and we see significant opportunities within our existing business model. While we're open to exploring other revenue streams in the future, we have no active plans to pursue advertising," Friar told us in a statement.by the Financial Times earlier today, with the CFO telling the newspaper that OpenAI would be"thoughtful about when and where we implement them .
While Friar said there were no active plans, OpenAI has hired individuals with marketing skills and experience in building ad platforms. Kevin Weil wasChief Product Officer in June 2024, after working on product and marketing for both Instagram and Twitter. Shivakumar Venkataraman joined as VP in May 2024 having spent more than 20 years at Google, including a lengthy stint working on ads in the company's services.
OpenAI continues to burn through investor cash as it builds AI models. This approach is not compatible with a for-profit model, and investors will want a return on their investment at some point, even ifAn easy route to AI-enhanced productivityAnother OpenAI founder moves to arch-rival Anthropic
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OpenAI’s text-to-video AI tool Sora leaked in protest by artistsPeople testing the new model accuse the company of ‘artwashing’
Read more »
OpenAI explores advertising as it steps up revenue driveChatGPT maker hires advertising talent from big tech rivals
Read more »
Judge tosses publishers' copyright suit against OpenAIRaw Story and AltNet allowed to amend complaint
Read more »
OpenAI Aims for 1 Billion Users with New AI Products and Apple PartnershipOpenAI is accelerating its growth by developing new AI products, including chatbots, search engines, and agents, alongside building its own data centers and partnering with Apple. This expansion comes as the company targets reaching 1 billion users within the year and positions itself as a global tech giant in the 'Intelligence Age'.
Read more »
Elon Musk adds Microsoft to lawsuit against ChatGPT-maker OpenAIMr Musk, a co-founder of the company, is accusing it and the tech giant of operating a monopoly.
Read more »
SoftBank to boost OpenAI stake with up to $1.5bn investmentMasayoshi Son says his mission is to bring about artificial superintelligence
Read more »