OpenAI is on track to $40 billion in annualized revenue, doubling from $20 billion at the end of 2025, according to Bloomberg reporting dated August 13. The artificial intelligence company is preparing for a Wall Street initial public offering, with a confidential S-1 filing submitted in June 2026 but no official IPO date yet set.
The doubling in run rate over eight months reflects the acceleration in both consumer and enterprise adoption of OpenAI's models and services. OpenAI CFO Sarah Friar has previously disclosed the company's $20 billion revenue baseline at year-end 2025 in public statements. The $40 billion figure aligns with internal projections the company has shared with investors as it progresses through the IPO process.
OpenAI has been in active IPO discussions since early 2026. The company's confidential S-1 filing in June began the formal regulatory review process with the Securities and Exchange Commission, though no timeline for going public has been announced.
Reaching $40 billion in run rate places OpenAI among the fastest-growing software companies by revenue scale. For context, it took most enterprise software firms a decade or more to reach that threshold. OpenAI achieved the milestone roughly three years after launching ChatGPT to the public in November 2022.
The company's path to profitability has drawn scrutiny from investors amid discussions about the capital intensity of training and operating large language models. OpenAI's cost structure includes substantial spending on computing infrastructure, data and talent. An IPO would require the company to disclose detailed financial statements, including operating margins and cash flow, for the first time as a public company.
OpenAI's revenue growth has come from subscriptions to ChatGPT Plus and ChatGPT Team, API access from enterprise customers, and licensing deals with major technology companies. The company has not disclosed the breakdown between consumer and business revenue. Wall Street investors and technology sector analysts have expressed strong interest in OpenAI's IPO, given the scale of the AI market and the company's position in large language model development. A delayed or repriced IPO would show investor appetite for generative AI companies has shifted.
