OpenAI annualised revenues $20B less than previously signalled
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OpenAI's annualized revenue is $50B, $20B less than the $68B previously reported.
OpenAI told investors its annualized revenue hit roughly $50 billion at the end of September, CNBC confirmed. The $68 billion figure reported in late September included gross revenue from partners, meant to allow direct comparison with Anthropic. The news sent AI stocks lower: Nvidia fell 3%, Oracle nearly 6%, CoreWeave nearly 8%, AMD 4%, Broadcom 4%, Intel 5%, and Super Micro nearly 5%. OpenAI is valued at $852 billion and confidentially filed for an IPO in June, eyeing a 2027 debut.
OpenAI reported 77% total run rate growth in Q3 and 107% run rate growth for its enterprise business. The company is in early-stage discussions to raise around $30 billion in a new funding round, driven by investor demand with no finalized term sheet. It closed a $122 billion round in March.
What commenters are saying
Top commenters focused on the discrepancy being a comparison vs. Anthropic: OpenAI's investors reportedly "grossed up" OpenAI's revenue to match Anthropic's method of including cloud partner sales. Some accused OpenAI of disinformation and blamed Anthropic, while others said both companies are likely lying about revenue. Several commenters questioned how OpenAI can generate $50B in revenue, citing examples of high enterprise spending on API tokens. The thread divided between those seeing it as an honest bet vs. fraud akin to SBF, and those predicting eventual failure or a crash dependent on government propping.