OpenAI tells investors annualized revenue neared $70 billion by September

OpenAI told investors its annualized revenue reached nearly $70 billion by the end of September. That figure puts the ChatGPT maker in revenue territory once reserved for established tech giants. The update lands as OpenAI is reportedly preparing for a potential IPO targeted for 2027. What the numbers actually say The headline metric is annualized revenue, often called the run rate. It is a snapshot of current pace, projected forward, not the same as revenue already booked over a full year. OpenAI’s prior benchmark was an annualized run rate of approximately $40 billion in August. Moving from roughly $40 billion to nearly $70 billion within about two months represents growth of more than 70% since the start of Q3 2026. The growth driver appears to be business customers. Enterprise revenue more than doubled since July, signaling that corporate buyers are moving beyond pilot programs and writing bigger checks. Consumers are spending too. Revenue from consumer products in the third quarter alone exceeded OpenAI’s total consumer revenue for all of 2025. That category includes ChatGPT subscriptions, the product that made the company a household name. Revenue up, profits still missing St...