Signal: ChatGPT breaks records despite GenAI deal value declining

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Generative AI deals have struggled to recover over the year after peaking at the beginning of 2023.

OpenAI’s ChatGPT mobile business enjoyed a record number of installs and total revenue in September, despite global generative AI (GenAI) deals struggling to recover after a major slump following a Q1 peak.

The hit GenAI chatbot saw 15.6 million downloads last month (Sept ’23) and brought in $4.58m in gross revenue across its mobile applications globally.

In June, ChatGPT on mobile made a $2.1m gross revenue, growing to $2.74 in July and then to $3.81m in August. The record revenue last month marks an almost $1m increase.

ChatGPT’s revenue milestone come as OpenAI continues to look for ways to monetise the expensive-to-run chatbot.

In February, OpenAI released a subscription service for personal users named ChatGPT+. For $19.99 a month, users are granted prioritised access in busy times, faster responses and access to a range of new features.

In addition to revenue increases, ChatGPT has continued to build upon its mobile user base. Google Play brought in the most downloads in September, accounting for 9 million out of the total 15.6 million.

Despite ChatGPT breaking records for its mobile user base and revenue last month, GenAI deals globally have struggled to reach the heights of Q1 2023.

In Q1 2023, global genAI deals totalled $12.2bn, according to GlobalData’s deal database.

A major drop followed in Q2, which saw GenAI deals total just $5.9bn.

The value grew slightly in Q3 but still totalled almost half of Q1’s total, at just $6.5bn.

According GlobalaData, GenAI is likely to disrupt every business across every sector in the coming years.

As the technology becomes more accurate and is able to provide reliable factual advice, the impact will extend across sectors and business functions, GlobalData said in its Artificial Intelligence 2023 Thematic Report.

Business transformation efforts are demanding intelligent chatbots and other gen AI integrations to move up the development stack and enhance customers’ image, video, and audio experiences, it added.

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