ChatGPT has been growing like wildfire. So fast that last month, its parent OpenAI had to pause taking new paid subscribers citing scaling issues. The result was an immediate stop to revenue growth and, thanks to churn, a massive drop in revenue.
Well, Sam managed to find more GPUs and ChatGPT is now taking on new paying subscribers, which is good because at their churn rate, revenue didn't look great...
Let's have a look at what this means for the bottom line.
A lot of money! That's what it means for the bottom line.
In fact, re-enabling subscriptions has led ChatGPT to its highest single-day revenue ever!
According to our estimates, ChatGPT brought in $297K of net revenue, what OpenAI gets to keep after Apple and Google take their fees, last Wednesday, the day subscriptions reopened. That's a 31% increase over the day before.
But that was just a warm-up. On Thursday, daily net revenue jumped to a whopping $411K - the most ChatGPT ever had in one day. In fact, it beat its previous single-day high by 28%!
The comeback isn't surprising, but it's great to see. While growth looks great, ChatGPT has many hurdles ahead of it. Everyone seems to be releasing an LLM these days and don't forget the massive churn OpenAI will have to address somehow.
None of this is bad, just interesting to watch.
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