Insiders revealed that, based on current performance, OpenAI's annualized revenue is expected to exceed $4 billion, roughly doubling from the level at the end of 2025, providing strong momentum for the company's plan to go public on Wall Street. According to unnamed insiders, OpenAI's revenue has accelerated in recent months, partly due to the rapid expansion of its AI coding software business, with growth also coming from the subscription business and an early-stage advertising business, while the core consumer business continues to expand. OpenAI declined to comment.
The accelerated revenue growth comes as OpenAI fiercely competes with long-time rival Anthropic for enterprise customers. Both companies have submitted confidential IPO application documents, and Anthropic is expected to go public as early as this autumn, earlier than OpenAI, thus being the first to knock on the door of the capital market.
The IPO race heats up, hidden concerns under a $70 billion valuation
Anthropic was once seen as the underdog in the competition, but its AI tools that simplify complex tasks like programming have attracted more and more users. The company said in May that its annualized revenue had exceeded $4.7 billion, although the calculation methods for this metric may differ between the two companies. From the data comparison, Anthropic actually leads OpenAI in revenue scale, making the term "underdog" seem rather ambiguous.
To strengthen its commercialization capabilities before going public, OpenAI appointed Dali Rajic, president of Wiz, a subsidiary of Alphabet, as chief revenue officer. In an internal announcement about the appointment, OpenAI co-founder and president Greg Brockman revealed that the company's annualized revenue grew by more than 20% in July, maintaining a strong growth trend. From over $2 billion to $4 billion, OpenAI achieved a revenue doubling in less than a year, but facing Anthropic's early IPO and external doubts caused by differences in revenue metrics, whether this AI giant can tell a more compelling story to the capital market will be the most intriguing mystery to watch in the coming period.
