Three sources briefed on OpenAI's recent pitch to investors said the organization expects $200 million in revenue next year and $1 billion by 2024.
OpenAI was most recently valued at $20 billion in a secondary share sale, one of the sources said.
The startup has already inspired rivals and companies building applications atop its generative AI software, which includes the image maker DALL-E 2.
OpenAI has also attracted attention as an AI provider and potential Google search competitor, with ChatGPT answering queries for more than 1 million users so far.
OpenAI warns users, ChatGPT "may occasionally produce harmful instructions or biased content."