OpenAI Hits $10 Billion in Annual Revenue

Sweden's Lovable in Talks for $1.5 Billion Valuation

Author

Algot Persson
June 10, 2025

In Today’s Issue:

  • OpenAI hits $10 billion in annual revenue

  • Sweden's Lovable in talks for $1.5 billion valuation

Read time: 3 minutes

OpenAI hits $10 billion in annual revenue

OpenAI has reached $10 billion in annual recurring revenue (ARR), less than three years after launching ChatGPT. The figure includes revenue from consumer products, ChatGPT business tools, and API usage, but excludes Microsoft licensing and one-time deals. Last year, ARR was $5.5 billion. Despite rapid growth, OpenAI posted a $5 billion loss in 2024. The company now targets $125 billion in revenue by 2029, per sources. With 500 million weekly users and 3 million paying business customers, OpenAI’s growth underpins its $40 billion funding round and a valuation of 30x revenue. Investors include Microsoft, SoftBank, Coatue, and Thrive.

Sweden's Lovable in talks for $1.5 billion valuation

AI startup Lovable, based in Sweden, is in early talks with U.S. investors to raise $100 million at a $1.5 billion valuation, according to sources. The company enables users with little or no coding experience to build apps and websites—a trend dubbed “vibe coding.” Founded in 2023, Lovable claims $61 million in annual recurring revenue just six months after launch, with 130,000 paying users. Two-thirds of its users lack coding experience. Business subscriptions now make up 20% of sales and are growing quickly. CEO Anton Osika, formerly of Depict.ai, confirmed investor interest but said the startup doesn't currently need capital. Past investors include Creandum, Antler, and OpenAI board member Adam D’Angelo. The company has addressed earlier security concerns reported in May, stating its AI-built apps may ultimately prove more secure than those made by humans.

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