OpenAI says annualized revenue could reach $70 billion by year-end

OpenAI expects its annualized revenue to reach or exceed $70 billion by the end of this year, driven by growth in its enterprise business, according to Bloomberg, which cited people familiar with the matter. The same sources said OpenAI’s annualized revenue stood at about $50 billion as of the end of September. The metric reflects a full-year revenue run rate extrapolated from sales over a shorter period rather than booked revenue for a completed fiscal year. According to the report, OpenAI shared those figures with investors while discussing its latest fundraising round. Earlier reports had said the company was in talks to raise at least $30 billion in new funding at a pre-money valuation of $1.4 trillion. The figures point to a sharp increase in OpenAI’s revenue run rate over a short span, with enterprise demand identified in the report as the main driver.