OpenAI annualized revenue tops $40 billion ahead of potential IPO
OpenAI's annualized revenue run rate has surpassed $40 billion, roughly doubling since the end of 2025. The acceleration strengthens the company's position ahead of a potential public offering.
According to Bloomberg, citing people familiar with the matter, demand for coding tools has been one of the main drivers of growth. Subscriptions, the company's emerging advertising business and continued expansion of its consumer operations have also contributed.
Revenue doubles in less than a year
OpenAI Chief Financial Officer Sarah Friar previously said the company's annualized revenue run rate exceeded $20 billion at the end of 2025. The figure has therefore roughly doubled since then.
Growth accelerated significantly in July. OpenAI co-founder and President Greg Brockman told employees that the company's annual revenue run rate increased by more than 20% during the month.
The company is also seeing strong demand for AI agents.
In recent weeks, Codex has gained traction for coding, alongside ChatGPT Work for a broader range of workplace tasks. OpenAI has also cut prices for some models as it seeks to compete more aggressively for cost-sensitive enterprise customers.
Anthropic remains one of its main rivals. In May, the company said its annualized revenue run rate had surpassed $47 billion, although the two developers may use different methodologies to calculate the metric.
Both companies have already confidentially filed paperwork to go public. According to people familiar with the matter, Anthropic could hold its IPO as early as this fall, potentially beating its rival to the public market.
OpenAI prepares to go public
As its business expands, OpenAI continues to reshape its commercial operations. On August 13, the company appointed its second chief revenue officer in less than a year, hiring a cybersecurity executive for the role.
At the same time, the AI developer is expanding opportunities for employees to sell their shares ahead of an IPO. The company completed a secondary share sale of approximately $7 billion, allowing current and former employees to convert part of their holdings into cash.
The transaction valued OpenAI at $852 billion. Its scale highlights how sharply investor expectations have risen ahead of the company's potential stock market debut.
OpenAI also previously announced free access to its advanced AI models for scientists, mathematicians and engineers. The program will initially cover 10,000 researchers, with the company aiming to expand participation to 100,000 by 2027.