OpenAI announced Monday that its advertising business, launched about 200 days ago, has surpassed an annualized revenue run rate of $1 billion. The company said the milestone demonstrates the strength of its diversified business model.

The new revenue stream supplements OpenAI’s existing enterprise services, consumer subscriptions and usage-based API business. It also comes as the company reportedly prepares for a highly anticipated initial public offering and seeks to justify its valuation to investors.

OpenAI began testing advertisements in ChatGPT in the United States in February. The program has since expanded to more than 40 countries, with self-service advertising set to launch in India, Europe, the Middle East and North Africa. Ads are currently shown only to free users and Go subscribers.

OpenAI said all advertisements are clearly labeled, do not influence ChatGPT’s responses and do not give advertisers access to users’ private conversations. The company plans to expand into additional markets while introducing more advertising formats, purchasing options, campaign goals and performance-measurement tools.