OpenAI is headed toward annualized revenue exceeding $40 billion, a figure that would represent roughly twice the run rate it recorded at the close of 2025, Bloomberg reported, citing people with knowledge of the matter who requested anonymity.
The acceleration comes as the company prepares for a public market debut and is locked in a competition with rival Anthropic PBC for business customers. OpenAI co-founder and President Greg Brockman said in an internal announcement Thursday that the company’s annual revenue run rate grew more than 20% month-over-month in July. OpenAI Chief Financial Officer Sarah Friar had previously said the company ended 2025 with more than $20 billion in annualized revenue.
Bloomberg attributed the revenue surge to several factors, including rising demand for the company’s AI coding products, growth in its subscription base, and the early development of an advertising revenue stream. Demand has also climbed for OpenAI’s AI agents — among them Codex, which handles coding tasks, and ChatGPT Work, which addresses a wider range of workplace needs. OpenAI has also lowered pricing on select models as it fights for budget-sensitive customers in a crowded field that includes Anthropic and numerous Chinese competitors.
Anthropic disclosed in May that its run-rate revenue had surpassed $47 billion, though Bloomberg cautioned that the two companies could be using different methodologies to calculate that figure.
As Friar told employees in late July, OpenAI’s annualized recurring revenue for that month had already surpassed the company’s total for the second quarter. She and board chair Bret Taylor attributed that momentum to three products: the GPT-5.6 model series, ChatGPT Work, and Codex. Taylor acknowledged at the same meeting that OpenAI had been playing catch-up in the coding market.
OpenAI’s revenue gains come against a backdrop of significant losses. The company posted a net loss of $38.5 billion in 2025 on $13.07 billion in revenue, according to audited financial documents.
On Thursday, OpenAI named Dali Rajic as its new chief revenue officer, replacing Denise Dresser, who is leaving the company. Rajic most recently served as president and chief operating officer of cybersecurity firm Wiz. The leadership change is one of several senior departures at OpenAI in recent months as the company works to build out its enterprise business ahead of going public. OpenAI submitted a confidential IPO prospectus to the Securities and Exchange Commission in June.