OpenAI's annualized revenue run rate has passed $40 billion, roughly double the figure it recorded at the end of 2025, according to a Bloomberg report citing people familiar with the matter. The company declined to comment on the numbers. Growth is being driven by ChatGPT subscriptions, AI coding software, and a new advertising business, with July alone outpacing the entire second quarter.
What's driving the surge
President Greg Brockman told staff that revenue climbed more than 20% month over month in July. Price cuts for customers in July increased enterprise demand rather than reducing revenue. AI agents like Codex and ChatGPT Work are pushing customers toward higher-paying tiers. CFO Sarah Friar had previously placed the 2025 exit figure above $20 billion, and management now wants enterprise customers to supply half of all revenue by the end of this year.
A wave of departures
Chief Revenue Officer Denise Dresser will leave in the coming weeks after about eight months in the role. Dali Rajic takes over global revenue operations; he previously served as president and COO of Wiz. Dresser's exit follows Brad Lightcap's recent departure, and Fidji Simo stepped back for health reasons. OpenAI has also lost its head of ethics, head of safety systems, and former mission alignment chief in recent months. Brockman has pulled operating duties under his own remit in response.
IPO and buyback
OpenAI has filed confidentially for an initial public offering and recently bought back employee shares worth $7 billion with its own cash. Rival Anthropic may list in October at a valuation above $2 trillion, potentially beating OpenAI to market.
The company hasn't commented on the revenue figures or the IPO timeline. With Anthropic eyeing an October listing, OpenAI's next move will be closely watched.
