OpenAI’s revenue run rate tops $40B ahead of IPO

OpenAI's annualized revenue run rate has surpassed $40 billion, roughly doubling from the end of 2025, according to Bloomberg. The milestone strengthens the company's case for a highly anticipated initial public offering as it battles rival Anthropic for dominance in the enterprise AI market.bloomberg

Coding Software and Subscriptions Drive Growth

The ChatGPT maker's revenue has accelerated in recent months, driven by growth in its AI coding software, subscription sales, and a nascent advertising business, according to people familiar with the matter who spoke to Bloomberg. Co-founder and President Greg Brockman told staff in an internal announcement that the company's annual revenue run rate grew more than 20% month-over-month in July alone.finance.yahoo

Demand has surged for OpenAI's AI agent products, including Codex for coding and ChatGPT Work for broader enterprise tasks. The company has also cut prices on certain models to compete for cost-conscious customers against Anthropic and a growing list of Chinese rivals.investing+1

Fierce Competition With Anthropic

OpenAI is locked in an intensifying battle with Anthropic, which reported a $47 billion annualized revenue run rate in May, though Bloomberg noted differences in accounting methodologies make direct comparisons difficult. Both companies have filed confidential paperwork to go public, with Anthropic expected to list as early as this autumn, potentially ahead of OpenAI.finance.yahoo

OpenAI on Thursday named its second chief revenue officer in less than a year, tapping a cybersecurity executive to bolster enterprise sales. Chief Financial Officer Sarah Friar previously said the company ended 2025 with more than $20 billion in annualized revenue.finance.yahoo

Road to Wall Street

The revenue acceleration underscores how rapidly generative AI is being monetized across consumer and enterprise channels. As both OpenAI and Anthropic prepare for Wall Street debuts, investors will be watching whether these growth trajectories can be sustained alongside the massive capital expenditures required to train and deploy next-generation models.investing