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00:02OpenAI is rapidly building an advertising business to support ChatGPT's free tier and
00:06help offset rising computing costs ahead of a planned IPO, according to The Wall Street
00:11Journal.
00:11The company said last month it was on pace to reach $1 billion in annualized ad revenue
00:16after launching ads for some U.S. users in February.
00:19The business has since expanded to more than 50 countries, adding auction-based pricing,
00:23pay-per-click formats, product carousels, and a self-serve platform for advertisers.
00:27OpenAI has hired several former Meta employees for its advertising team and is using Codex
00:32to rapidly develop new ad features.
00:34Some brands have reported underwhelming results, limited targeting options, and technical problems
00:38as OpenAI scales the operation.
00:40For all things money, visit Benzinga.com
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