OpenAI has achieved $10 billion in annual recurring revenue just three years after launching ChatGPT, reflecting significant growth in both consumer and business products. Despite reporting a loss of $5 billion last year, the company aims for $125 billion in revenue by 2029 and has seen an increase in paying business users from two million to three million in recent months.

OpenAI has announced the hiring of Fidji Simo, the current CEO of Instacart, to lead its applications business as the company aims to scale operations and drive growth. Simo, who has been on OpenAI's board for a year, will continue her role at Instacart temporarily before transitioning fully to OpenAI.

OpenAI has announced the appointment of Fidji Simo as the new CEO of Applications, aimed at enhancing the company's operational and business functions as it continues its rapid expansion. Sam Altman, the current CEO, will maintain oversight of research, compute, and safety systems while focusing on the organization's strategic growth. Simo, previously an OpenAI board member and former Instacart leader, expresses her commitment to leveraging technology for public good.

OpenAI is revolutionizing the tech landscape with unprecedented growth, claiming 500 million weekly active users and a staggering $40 billion funding announcement. Despite facing significant financial losses, the company's ambition to achieve artificial general intelligence sets it apart as a singular force in both AI research and consumer markets.