OpenAI revenue run rate nears $70B as enterprise sales more than double

OpenAI’s annualized revenue run rate is approaching $70 billion as enterprise sales accelerate, giving the ChatGPT maker additional momentum ahead of a potential initial public offering.

OpenAI’s revenue run rate has increased more than 70% since the beginning of the third quarter, while business-to-business revenue has more than doubled since July, according to people familiar with the company’s financials cited by Axios.

Growth is also accelerating on the consumer side. OpenAI added more consumer revenue during the third quarter than it added during all of 2025, according to the report.

The numbers come as OpenAI and Anthropic move closer to the public markets, potentially giving investors their clearest look yet at the economics behind two of the world’s largest artificial intelligence companies.

OpenAI confidentially filed for an IPO in June and is expected to list by early 2027, according to Reuters. CEO Sam Altman said earlier this month that the company would not pursue an IPO in 2026 as it focused on safety concerns surrounding increasingly capable AI systems.

The company is also holding early discussions with investors over another private funding round that could value it at more than $1.2 trillion ahead of a listing, Bloomberg reported earlier this month.

Its accelerating enterprise business is particularly notable given Anthropic’s recent strength with corporate customers. Anthropic’s annualized revenue reached about $65 billion in July and has continued growing.

Anthropic is further along in its IPO process. A prospectus reviewed by Reuters showed the Claude developer is preparing for a public offering that could value the company at more than $2 trillion, with its debut expected after the November US midterm elections.

The filing also offers an early view of the extraordinary spending required to support that growth. Anthropic generated nearly $4.6 billion of revenue in 2025, up twelvefold from the prior year, while posting an operating loss of more than $8 billion. It has also committed to roughly $518 billion in future cloud, computing and infrastructure spending. Reuters

OpenAI has not disclosed comparable expense figures alongside the latest revenue numbers, leaving investors with less visibility into how much spending is required to sustain its current growth, Axios noted. Axios

The two companies increasingly compete for enterprise customers, developer adoption and access to the enormous amounts of computing infrastructure needed to train and operate frontier AI models. Their eventual listings could establish some of the first public-market benchmarks for valuing standalone AI labs.