OpenAI projects $70 billion annualised revenue by year

OpenAI projects $70 billion annualised revenue by year-end: report

OpenAI expects to hit or pass $70 billion in annualised revenue by the end of the year, up from roughly $50 billion at the end of September, according to people familiar with the matter cited by Bloomberg News. The growth is driven largely by its enterprise business.

The projection was shared with investors during talks for a new round of $30 billion or more, which would value the company at $1.4 trillion before the new money, states the report by Bloomberg News. OpenAI declined to comment to Bloomberg on the matter.

Comparisons with rival Anthropic are complicated by how the two firms count sales, explains the report. Anthropic books the gross amount of certain revenue from cloud partners such as Amazon, while OpenAI records only its own share of revenue from partners including Microsoft. On that net basis, OpenAI can look smaller than Anthropic even when the underlying business is similar. Anthropic's annualised revenue reached $65 billion by the end of July, according to a previous report by Bloomberg.

OpenAI has delayed its IPO until at least next year, citing AI safety work. Anthropic could list as soon as November. OpenAI is in talks with several UAE funds, including Abu Dhabi's MGX, to anchor the round, further adds the report.