In 2024, OpenAI claimed the bulk of its revenue was 70-80% through consumer ChatGPT subscriptions. That's wildly impressive.

But now they've had an order of magnitude revenue growth. That can't still be consumer subscriptions, right? They've had to have saturated that?

I haven't seen reports of the revenue breakdown, but I imagine it must be enterprise sales.

If it's enterprise sales, I'd imagine that was sold to F500 companies in bulk during peak AI hype. Most of those integrations are probably of the "the CEO has tasked us with `implementing an AI strategy`" kind. If so, I can't imagine they will survive in the face of a recession or economic downturn. To be frank, most of those projects probably won't pan out even under the rosiest of economic pictures.

We just don't know how to apply AI to most enterprise automation tasks yet. We have a long way to go.

I'd be very curious to see what their revenue spread looks like today, because that will be indicative of future growth and the health of the company.

With less than 10% of users paying for a subscription, I doubt they have saturated.