OpenAI Hits $40 Billion Revenue Run Rate as IPO Race With Anthropic Heats Up

TLDR

• OpenAI’s annualized revenue run rate has surpassed $40 billion, more than doubling from late 2025
• Monthly revenue grew over 20% in July, driven by AI coding tools, subscriptions, and advertising
• Anthropic’s CFO is holding early investor meetings ahead of a potential IPO this fall
• Both OpenAI and Anthropic have filed confidential IPO paperwork with Anthropic expected to list first
• OpenAI cut prices on some models to compete against Anthropic and Chinese rivals

OpenAI’s annualized revenue run rate has crossed $40 billion, according to people familiar with the matter. That is more than double the $20 billion run rate the company reported at the end of 2025.

OpenAI’s annualized revenue has topped $40B, roughly double its end-2025 run rate. July run-rate revenue rose 20%+ MoM, driven by Codex, subscriptions and early ad sales. – Bloomberg pic.twitter.com/yB2lEQe4Fk

- Wall St Engine (@wallstengine) August 13, 2026

The growth has been driven by demand for AI coding tools, subscription sales, and a growing advertising business. OpenAI’s enterprise products, including Codex and ChatGPT Work, have seen rising adoption in recent months.

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