OpenAI expects US$70 billion in annualized revenue by end of 2026

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Photo by Heather Diehl/Getty ImagesOpenAI is expecting to reach or exceed US$70 billion in annualized revenue by the end of the year, according to people familiar with the matter, driven largely by growth in its enterprise business.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe ChatGPT-maker’s annualized revenue was roughly US$50 billion at the end of September, the people said. The figure represents a projection of OpenAI’s yearly sales based on a shorter period.This advertisement has not loaded yet, but your article continues below.The company shared the numbers with investors as part of discussions for its latest fundraising effort, said the people, requesting anonymity to discuss private information. The company is in talks to raise US$30 billion or more at a US$1.4 trillion valuation before the new money, Bloomberg first reported in September.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againOpenAI declined to comment.OpenAI, Anthropic and other AI firms have often touted their annualized revenue as a key growth metric. However, not all companies measure it the same way. Anthropic’s annualized revenue hit US$65 billion by the end of July, Bloomberg News previously reported.Some outlets reported last month that OpenAI was already projecting nearly US$70 billion in annualized revenue, based on investor estimates. The Financial Times reported Thursday that the discrepancy came from OpenAI’s investors attempting to calculate OpenAI’s annualized revenue using the same methods as rival Anthropic PBC, which accounts for sales from cloud providers differently.On Thursday, tech shares led losses in the S&P 500 after reports that OpenAI’s annualized revenue would be lower than some previous estimates. The Nasdaq 100 fell 1.4 per cent. A gauge of chip giants sank 3.4 per cent.This advertisement has not loaded yet, but your article continues below.While OpenAI has pushed back plans for an initial public offering until at least next year, citing its focus on AI safety efforts, Anthropic is expected to sell shares in an IPO as soon as November.OpenAI is in talks with multiple investment funds from the United Arab Emirates, including Abu Dhabi-based MGX, to help anchor its new financing round, Bloomberg has reported.The company most recently raised a US$122 billion round in March at an US$852 billion valuation, including the money.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.