❯ OpenAI’s Annualized Revenue Surpasses $40 Billion, Roughly Doubling From End of Last Year

KEY POINTSBloomberg reports that OpenAI’s annualized revenue run rate has surpassed $40 billion — roughly double the figure at the end of 2025. President Greg Brockman said in an internal memo that the run rate rose more than 20% month over month in July alone. Growth engines include subscriptions, early-stage advertising, and the Codex coding agent along with the ChatGPT Work enterprise product.

COMPARISONRival Anthropic disclosed a run rate of $47 billion in May, but the two private companies use different statistical calibers, so the numbers cannot be directly compared. Revenue is surging while management is bleeding: according to The Information, Chief Revenue Officer Denise Dresser left after just 8 months in the role — the second executive to depart this week — and the company is in a critical window as it races toward an IPO.

IPO RACEThese figures appeared in the press on the same day as Anthropic’s $11.5 billion quarterly report, and both companies are sprinting toward an IPO. On one side, revenue is doubling; on the other, executives are leaving in succession. When institutional investors price OpenAI, they must choose one of these two data columns as an anchor — for the first time, executive stability, like the revenue curve, has become an input to the valuation model.

▪ SIGNALRevenue doubling and executive departures appear on the same screen; OpenAI’s IPO story is harder to price than the numbers themselves.