OpenAI's annualized revenue run rate has surpassed $40 billion, roughly doubling from late 2025, with subscriptions driving most growth and expansion now underway in advertising and enterprise software.
The acceleration comes as OpenAI and rival Anthropic both prepare for public listings and continue heavy investment in AI training and deployment.
What happened
OpenAI's annualized revenue run rate has passed $40 billion, roughly doubling from late 2025, according to Bloomberg. CFO Sarah Friar had previously reported the figure above $20 billion at the end of last year, and co-founder Greg Brockman told staff the monthly run rate grew more than 20% in July alone.
Why it matters
The sharp acceleration shows OpenAI is monetizing its AI products at scale across multiple channels—subscriptions remain the largest contributor, but the company is now broadening into advertising and software offerings like the Codex coding agent and ChatGPT Work for enterprises. The growth trajectory suggests the company is moving toward profitability even as it invests heavily in training and deployment.
What to watch
Anthropic reported a $47 billion run rate in May and has filed confidentially for a listing that could come as early as this fall. Different accounting methods make a clean comparison difficult, Bloomberg noted. Both companies are heading toward public markets while spending heavily on AI infrastructure.
OpenAI's annualized revenue run rate has exceeded $40 billion, nearly doubling from late 2025 when CFO Sarah Friar reported the figure above $20 billion at year-end. Co-founder and president Greg Brockman communicated the acceleration to staff, noting that the monthly run rate grew more than 20% in July alone.
The growth is being driven primarily by subscriptions but is increasingly broadening into adjacent revenue streams. The company has begun offering advertising as a revenue channel and is expanding its software offerings, particularly through Codex, a coding agent, and ChatGPT Work, a product aimed at enterprises. To support developer adoption, OpenAI recently cut prices on some models. The company has also hired a cybersecurity veteran as its second chief revenue officer in under a year, signaling heightened focus on revenue operations and growth infrastructure.
OpenAI's performance is unfolding in parallel with rival Anthropic's. Anthropic reported a $47 billion run rate in May and has filed confidentially for a listing that could come as early as this fall. Bloomberg cautioned that different accounting methods between the two companies make a clean comparison difficult. Both are heading toward public markets while continuing to spend heavily on training and deployment, indicating that the race for AI dominance remains capital-intensive even as the business models begin to mature.
OpenAI's revenue has accelerated dramatically in the first half of 2024, with the $40 billion run rate representing a near-doubling in less than a year. The breadth of growth—subscriptions plus advertising and enterprise software—suggests the company has moved past early monetization and is now capturing value across multiple user segments and use cases. The 20% month-over-month growth in July indicates momentum is not yet slowing.
Both OpenAI and Anthropic are pursuing public listings while maintaining aggressive spending on model training and compute infrastructure. Bloomberg noted that different accounting methods complicate direct comparison between the two companies, but both are in the range of $40–$47 billion run rates. This signals that large language models have achieved sufficient scale and market acceptance to support massive revenue streams, even as the underlying costs of compute and training remain substantial.
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