❯ OpenAI’s annualized revenue nears $70 billion as business revenue doubles since July

Up 70% in a quarterAccording to Axios, citing people familiar, OpenAI’s annualized revenue run rate is nearing $70 billion, up more than 70% since the start of Q3. A run rate extrapolates current revenue over a full year; it is not revenue already booked.

Business is the engineGrowth came mainly from companies: OpenAI’s B2B revenue more than doubled over the period. Consumer growth also accelerated, with new consumer revenue added in Q3 exceeding the amount added in all of 2025. Behind this are the rollout of ChatGPT Enterprise, API usage and the Codex coding tool, as well as OpenAI’s more flexible pricing and allowances for business customers; The Information reported this week that Anthropic has begun ending discounts of about 15% once customers use up their purchased tokens.

Where the valuation comes fromThese figures emerged in the same week OpenAI is planning a $1.4 trillion raise and unveiling a wave of enterprise products at DevDay. Doubling business revenue is the most direct evidence behind a high valuation. Conversely, the harder OpenAI and Anthropic fight for deals, the more leverage corporate buyers gain on price and contract terms.

▪ SIGNALThe second race among model makers is no longer about whose model is smarter but who can turn enterprise budgets into renewable revenue faster.