OpenAI Revenue Run Rate Tops $40 Billion
OpenAI’s annualized revenue run rate has surpassed $40 billion, according to a Bloomberg report, marking a sharp acceleration for the ChatGPT developer as it prepares for a potential public listing. The figure represents revenue projected over a full year based on the company’s recent performance.
The milestone also highlights how quickly OpenAI’s commercial business has expanded. Its run rate has roughly doubled from the end of 2025, according to the reports. Growth has come from several areas, including ChatGPT subscriptions, enterprise services, coding products and advertising. Revenue Growth Accelerates
OpenAI’s latest figure represents a significant increase from the $25 billion annualized revenue reported at the end of February. That earlier figure had already risen 17% from $21.4 billion at the end of 2025.
Moreover, OpenAI executives have pointed to stronger demand across its product portfolio. In July, CFO Sarah Friar told employees that annualized recurring revenue for the month had already exceeded the company’s entire second-quarter revenue.
The company attributed recent momentum to its GPT-5.6 model family, ChatGPT Work and Codex. Meanwhile, OpenAI has continued expanding its enterprise business, which accounted for more than 40% of revenue earlier this year.
IPO Plans Gain Momentum
The revenue acceleration comes as OpenAI moves closer to the public markets. In June, the company confidentially filed for a US initial public offering, although it did not disclose the size or timing of the offering.
At the time, reports indicated that OpenAI could seek a valuation of up to $1 trillion. However, the company said there was no fixed timeline for the listing.
Furthermore, the stronger revenue profile could improve OpenAI’s position with public-market investors. Yet, revenue growth remains only one part of the IPO equation. The company continues to face enormous computing costs and intense competition across the AI sector.
OpenAI has also projected much larger future revenue. In February, Bloomberg reported that the company expected revenue to exceed $280 billion by 2030, supported by continued growth in consumer and business AI subscriptions.
Competition Intensifies
The $40 billion milestone arrives as OpenAI faces a stronger challenge from Anthropic. Anthropic reported a $47 billion annualized revenue run rate in May, according to recent reports.
Meanwhile, OpenAI is reshaping its commercial leadership ahead of its expected IPO. Chief Revenue Officer Denise Dresser is leaving, while Dali Rajic, formerly president and COO of Wiz, is set to take over the role.
The leadership changes add another dimension to OpenAI’s public-market preparations. At the same time, the company is trying to expand enterprise adoption while keeping pace with Anthropic, Google and lower-cost AI models.
As a result, OpenAI’s latest revenue figure strengthens its IPO narrative. However, investors will likely examine revenue quality, operating costs, growth rates and the economics of AI infrastructure before assigning a public-market valuation.
