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OpenAI is projecting a sharp increase in its revenue, expecting to more than triple its earnings to $12.7 billion this year, according to a Bloomberg report on March 26. The ChatGPT creator is also aiming for its revenue to surge past $29 billion by 2026, despite mounting competition from fast-growing Chinese AI firms.
The Sam Altman-led company’s bullish forecast comes as it continues to expand its paid AI software subscription services for both individual users and enterprises. OpenAI reportedly surpassed 1 million paid corporate users last September and recently introduced a $200 monthly ChatGPT Pro plan.
However, despite its rapid growth, OpenAI does not expect to become cash-flow positive until 2029, when it anticipates annual revenue topping $125 billion. The firm is also reportedly finalizing a $40 billion funding round led by SoftBank Group, which would value OpenAI at up to $300 billion.
Chinese AI Firms Pose Growing Threat
While OpenAI dominates the AI market, competition from China is heating up. In late January, Chinese firm DeepSeek rattled the industry by launching its ChatGPT competitor, the “R-1” model. The release triggered a wave of affordable, high-quality AI products from other Chinese tech giants.
On March 26, Baidu rolled out its own rival model, “Ernie X1,” while Alibaba Group unveiled an open-source AI model designed for cost-effective AI agents. Meanwhile, Tencent Holdings introduced its own chatbot through its subsidiary Ant Group, and DeepSeek launched its upgraded “DeepSeek-V3-0324” model on March 24.
Chinese tech leaders are closing the gap with their US counterparts at an accelerated pace. Lee Kai-fu, CEO of Chinese startup 01.AI, recently told Reuters that Chinese AI firms, once lagging behind US companies by six to nine months, are now only three months behind.
OpenAI Prepares for GPT-5 Amid Intensifying Race
OpenAI is preparing to release its next-generation models, GPT-4.5 and GPT-5, in the coming months. CEO Sam Altman revealed in a February 12 update that the new models will offer “higher-level intelligence” and include features such as voice interaction, canvas, deep research, and enhanced search capabilities.
As Chinese firms push forward with cheaper, scalable AI products, US tech investors, including former a16z partner Balaji Srinivasan, warn of the impact on American AI firms. Srinivasan stated on X that China is following its familiar playbook: “study, copy, optimize, and then bankrupt everyone with low prices and enormous scale.
