TLDR OpenAI has reached an annualized revenue run rate approaching $70 billion, representing over 70% growth since the start of Q3. The financial milestone was disclosed on the same date as O
The annualized revenue [[LINK_START_0]]run rate[[LINK_END_0]] for OpenAI has surged to approximately $70 billion, based on financial information disclosed by Axios and confirmed by several media sources on Tuesday.
OPENAI ARR NEARS $70B AS ENTERPRISE SALES MORE THAN DOUBLE – AXIOS
OpenAI’s annualized revenue run rate is approaching $70 billion, up more than 70% since the start of Q3, according to Axios.
The biggest acceleration is coming from enterprise.
Its B2B revenue has grown more… pic.twitter.com/XGkjqAXJd0
— Wall St Engine (@wallstengine) September 29, 2026
This represents a remarkable increase exceeding 70% from the beginning of the third quarter. The news broke during OpenAI’s yearly DevDay developer conference taking place in San Francisco.
At the conference, the company presents cutting-edge resources for software developers who integrate OpenAI’s technology into their applications.
The remarkable expansion at OpenAI stems from multiple revenue channels across its operations. Business-to-business income has experienced more than double-digit growth since July.
Notably, consumer revenue generated during Q3 alone has already surpassed the company’s entire consumer revenue for 2025. Key contributors include subscription services, corporate contracts, the Codex development tool, and an emerging advertising platform.
The $70 billion projection extrapolates from OpenAI’s latest monthly performance metrics. This represents a substantial acceleration from the $40 billion run rate that Bloomberg and Forbes documented just one month earlier.
According to Axios, complete expense data remains unavailable. This limitation means OpenAI’s true profitability remains somewhat obscured.
When contacted by Seeking Alpha for comment, OpenAI had not provided an immediate response.
Following the revenue disclosure, Oracle experienced share price appreciation ranging from 5% to 7%. As a major cloud infrastructure provider for OpenAI, Oracle’s fortunes are directly linked to the AI company’s expansion.
Microsoft maintains substantial financial connections to OpenAI as well. The tech giant generated $24.1 billion in fiscal 2026 revenue through its business arrangements with OpenAI.
Given that both OpenAI and Anthropic remain privately held, market participants frequently utilize Microsoft and Oracle stocks as indirect investment vehicles for AI growth exposure.
Anthropic, positioned as OpenAI’s primary competitor, is experiencing similarly rapid expansion. By late July, the company’s annualized revenue run rate had exceeded $65 billion.
This figure represents more than a sevenfold increase from its year-end 2025 run rate. A preliminary IPO prospectus examined by Reuters indicated that Anthropic’s contracted revenue expanded twelvefold to approximately $4.6 billion annually.
The document also revealed $518 billion in outstanding cloud infrastructure and computing commitments. It featured a risk disclosure acknowledging that the company’s AI technology could potentially represent an “existential risk” to human civilization.
Currently, both OpenAI and Anthropic maintain private company status. However, industry observers anticipate this situation may shift as both organizations appear to be preparing for eventual stock market debuts.
Should Anthropic proceed with a public offering, it would establish the inaugural public market valuation for an enterprise focused exclusively on generative artificial intelligence. This milestone would enable investors to conduct direct performance comparisons between the two AI leaders.
An OpenAI IPO would require the company to publish independently audited financial statements covering both revenues and operating costs. Such transparency would eliminate existing uncertainty regarding the company’s expense structure.
Following a March 2026 financing round, OpenAI achieved an $852 billion valuation. The Financial Times subsequently reported preliminary discussions suggesting a potential $1.2 trillion valuation.
Shareholders in Microsoft, Oracle, and semiconductor manufacturers are monitoring these developments with keen interest. Any forthcoming public listing from either AI laboratory is anticipated to serve as a critical benchmark for evaluating the broader AI infrastructure ecosystem.
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