OpenAI is expected to generate more than $1 billion in revenue in the next 12 months

OpenAI is reportedly on track to generate more than $1 billion in revenue over the next 12 months from the sale of AI software and its computing power. According to people familiar with the matter, this is far more than the $200 million revenue forecast the company had previously given to shareholders. Full-year revenue of $1 billion would mean the company, backed by Microsoft Corp (MSFT.US), would generate more than $80 million in monthly revenue, up from just $28 million for all of last year.

Meta sells Giphy to Shutterstock to comply with UK regulator order

Meta and Giphy logos are seen in this illustration taken

Adobe adds generative AI features to Photoshop software

Figurines are seen in front of displayed Adobe logo in this illustration taken

EU seeks top court backing in $14 billion tax fight against Apple

The logo of the European Court of Justice is pictured outside the main courtroom in Luxembourg January

TSMC talking to US about CHIPS Act 'guidance' amid subsidy concerns

A smartphone with a displayed TSMC (Taiwan Semiconductor Manufacturing Company) logo is placed on a computer motherboard in this illustration

Microsoft introduces AI-powered cybersecurity assistant

A 3D-printed Microsoft logo is seen on a computer motherboard in this picture illustration

Baidu's Hong Kong shares rebound as users test ChatGPT-like Ernie bot

Baidu's co-founder and Chief Executive Officer (CEO) Robin Li showcases artificial intelligence powered chatbot known as Ernie Bot by Baidu

U.S. FTC asks social media, video streaming firms info on misleading ads

Signage is seen at the Federal Trade Commission headquarters in Washington

Microsoft unveils AI office Copilot in fast-moving race with Google

Morgan Stanley is testing an OpenAI-powered chatbot for its 16,000 financial advisors

Morgan Stanley is rolling out an advanced chatbot powered by OpenAI’s latest technology to help the bank’s army of financial advisors, CNBC has learned.