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San Francisco: The losses of Microsoft-backed OpenAI, the developer behind highly-successful AI chatbot ChatGPT, reportedly swelled to nearly $540 million last year and are likely to only keep rising.

According to The Information, OpenAI’s losses doubled as it developed ChatGPT and hired key employees from Google.

“The previously unreported figure reflects the steep costs of training its machine-learning models during the period before it started selling access to the chatbot,” the report noted.

OpenAI in February this year launched the new subscription plan, ChatGPT Plus, that is available for $20 a month.