Brands like Home Depot, Intuit, and Booking are betting bigger on ChatGPT ads, new data reveals (www.businessinsider.com)

OpenAI is significantly ramping up its advertising strategy within the ChatGPT mobile app, revealing a surge in ad frequency and advertiser diversity since April. According to data from Sensor Tower, ads seen by users doubled in July compared to April, with the number of advertisers jumping from approximately 300 to over 820. High-profile brands such as Home Depot, Intuit, and Booking Holdings have replaced smaller tech companies as top advertisers, indicating a growing interest from mainstream sectors. Notably, financial services have emerged as a burgeoning category, with ad spend rising from 2% to 12%, positioning it as the third largest sector after shopping and software. This evolution marks a pivotal shift for OpenAI as it seeks to monetize its vast user base—estimated to have reached 1 billion monthly users in May. With current annual recurring ad revenue reported at $100 million, the company is still far behind industry giants like Google and Meta, but the rapid growth in advertisers suggests a promising trajectory for OpenAI's ad business. As OpenAI explores new ad formats and broadens its market reach, its cautious approach to ad placement demonstrates a commitment to user experience while simultaneously unlocking substantial revenue opportunities in the competitive digital advertising landscape.