OpenAI’s move to introduce advertising on ChatGPT could grow into a multi-billion-dollar revenue stream by the end of the decade, according to a report published on Nasdaq.com, citing a Wall Street analyst.
The company recently announced that it plans to begin testing advertisements for U.S. users on ChatGPT’s free and low-cost subscription tiers. Paid offerings such as ChatGPT Plus, Pro, Business and Enterprise will remain ad-free. OpenAI said the objective is to expand access to the platform while easing usage limits for non-paying users.
According to the company, advertisements will be clearly labelled and will not influence ChatGPT’s responses. OpenAI also said it will not sell users’ conversations or personal data to advertisers.
Citing a research note by Evercore ISI analyst Mark Mahaney, the Nasdaq.com report said OpenAI’s advertising business could generate as much as $25 billion in annual revenue by 2030, provided the company executes its strategy effectively. OpenAI reported more than $20 billion in revenue in 2025, meaning advertising could more than double its overall revenues over the next few years.
Mahaney based his projections on expected growth in ChatGPT’s user base, monetisation models used by other major digital advertising platforms, and OpenAI’s total addressable market. As of December 2025, ChatGPT reportedly had around 900 million weekly users, making it one of the fastest-growing consumer applications globally.
The analyst also said OpenAI’s ad offering could pose a challenge to Google’s core search advertising business. According to the report, Mahaney noted that ChatGPT could divert commercial queries traditionally handled by search engines, particularly if ads are integrated in a way that users find helpful rather than disruptive.
However, the report also flagged potential risks. Analysts cautioned that advertising could negatively affect user experience, prompting some users to disengage from the platform. The long-term success of the ad model will depend on OpenAI’s ability to balance monetisation with user trust and product quality.
The Nasdaq.com report noted that while OpenAI has attracted intense investor and public interest, the company is now entering a phase where sustained revenue growth and profitability will be closely scrutinised. Advertising, alongside subscriptions, could become a key pillar of its business model in the years ahead.
