Top stories today:

1. OpenAI forecasts revenue +214% to $11.6B in 2025
2. Apple considers new AR headset options, including moving compute to iPhone
3. Brazil’s top court imposes $5M+ fine on X before it is unbanned
4. California’s Gov. Newsom blocks controversial AI safety bill
5. China urges local companies to avoid buying NVIDIA’s chips

0. Data and calendar

1. OpenAI forecasts revenue +214% to $11.6B in 2025 ahead of $6.5B funding round

• $5B losses are expected in 2024.

ChatGPT is expected to make $2.7B in 2024, +286% from 700M in 2023

• 10M ChatGPT users pay $20M monthly fee.

• +$2 ChatGPT price rise is forecasted by the year-end.

• Over 5 years: $44 ChatGPT subscription price is projected.

OpenAI has forecasted its revenue to hit $100B in 2029

• $300M OpenAI’s monthly revenue in Aug., +1,700% since 2023.

• ~350M users on OpenAI’s services each month as of Jun., vs. 100M in Mar.

• 1M+ 3rd-party developers use OpenAI’s technology.

Thrive Capital is said to have the option to invest up to $1B more at the $150B valuation through 2025

• Microsoft, Nvidia, Tiger Global, and MGX are said to also invest in the round.

• However, Apple would not participate in the round.

• 2-year provision mandating OpenAI convert from a non-profit to a public-benefit corporation may be included.

• The funding could be closed this week.

3. Apple considers new AR headset options, including moving compute to iPhone

iPhone may replace Vision Pro’s on-board computer and external battery pack: