OpenAI’s revenue is racing toward $40 billion, according to Bloomberg. The figure would be twice its level from late last year. That growth could also strengthen the company’s plans for an initial public offering (IPO).
Bloomberg reported on August 13 that OpenAI’s annualized revenue could soon pass $40 billion. Annualized revenue estimates yearly sales from recent business performance. The company is seeing strong demand for coding AI models and paid subscriptions. Advertising is also becoming another revenue stream. Meanwhile, consumer services continue to attract more users.
The growth comes as OpenAI and Anthropic battle for corporate customers. Both AI companies are also preparing for possible stock market debuts. Anthropic could list as early as this fall. The company said its annualized revenue passed $47 billion in May. However, Bloomberg warned that both firms may calculate revenue differently. Therefore, their numbers may not be directly comparable.
OpenAI is also strengthening its business team ahead of a potential IPO. Last year, the company hired Dali Rajic as its chief revenue officer (CRO). Rajic previously served as president of cybersecurity company Wiz. OpenAI co-founder Greg Brockman welcomed the appointment. He also revealed that monthly annualized revenue had grown by more than 20% from the previous month.
With coding tools, subscriptions and ads gaining momentum, OpenAI’s next big move could be Wall Street. For investors, the race is becoming one to watch.
