OpenAI Nears $70 Billion in Annualized Revenue

OpenAI is nearing $70 billion in annualized revenue, up around 70% from its revenue pace at the beginning of the third quarter, according to a person briefed on the numbers.

That growth comes as the ChatGPT-maker has doubled down on selling to enterprises. OpenAI has rapidly cut the prices of its models in recent months, in part thanks to optimizations it’s been able to make to running those models, and there has been growing interest from developers in its Codex coding agent.

OpenAI’s revenue pace shows it likely has narrowed the gap with Anthropic, which pulled ahead earlier this year on the success of its Claude Code and Cowork products. Anthropic’s annualized revenue pace reportedly passed $65 billion in July and some estimates have placed it at $70 billion or higher more recently. Anthropic is preparing a public offering that could take place in November. Axios first reported the details of OpenAI’s revenue pace.