AI startup OpenAI's ChatGPT is on track to reach 700 million weekly active users this week, a top official said.

This is up from 500 million at the end of March this year and 4x since last year, Nick Turley, head of product, OpenAI, said in an X post.

"Every day, people and teams are learning, creating, and solving harder problems. Big week ahead. Grateful to the team for making ChatGPT more useful and delivering on our mission so everyone can benefit from AI," he added.

This milestone comes as the company is gearing to release its much anticipated GPT-5 model, the launch of which has already been delayed.

Last week, The New York Times reported that OpenAI has raised $8.3 billion in new funding, valuing the company at an estimated $300 billion. This is part of the Sam Altman led company's broader strategy to secure $40 billion this year.

According to a Sensor Tower report last week Asia has emerged as the top market for Generative AI downloads like ChatGPT driven by the rapid adoption in regions like India and China Mainland.

As of the end of June 30, ChatGPT continued to maintain the lead in all-time downloads at 940 million even as competition emerges from China's DeepSeek.