TLDR
- OpenAI has reached an annualized revenue run rate approaching $70 billion, representing over 70% growth since Q3 started.
- The news broke during OpenAI’s DevDay developer conference held in San Francisco.
- Oracle stock jumped 5-7% following the announcement, while Microsoft’s close partnership positions it to benefit from OpenAI’s expansion.
- Competing firm Anthropic hit a $65 billion revenue run rate by July, with its 2025 booked revenue surging twelvefold to $4.6 billion.
- Industry observers anticipate both AI companies will eventually pursue public offerings, establishing important valuation markers for the artificial intelligence sector.
OpenAI has achieved an annualized revenue run rate approaching $70 billion, based on financial information disclosed by Axios and referenced across various news sources on Tuesday.
This represents growth exceeding 70% from the beginning of the third quarter. The revelation coincided with OpenAI’s yearly DevDay developer conference taking place in San Francisco.
The gathering highlights innovative tools designed for developers creating applications using the company’s platform.
Revenue Sources Driving Expansion
The company’s revenue acceleration stems from multiple business segments. Its business-to-business division has expanded by over 100% since July.
Consumer-focused revenue generated during Q3 has surpassed the company’s entire consumer revenue from 2025. Multiple revenue streams are fueling this growth, including subscription services, enterprise agreements, the Codex development tool, and an emerging advertising platform.
The $70 billion projection extrapolates from the company’s latest monthly performance metrics. This represents a substantial increase from the $40 billion run rate previously disclosed by Bloomberg and Forbes last month.
According to Axios, complete expense data remains unavailable. This leaves questions about the company’s net profitability unanswered.
OpenAI has not yet provided a response to Seeking Alpha’s request for commentary.
Impact on Technology Sector Equities
Oracle’s stock price climbed 5-7% following the revenue disclosure. As a major cloud infrastructure provider for OpenAI, Oracle’s fortunes are directly linked to the AI company’s success.
Microsoft maintains substantial financial connections with OpenAI. The tech giant generated $24.1 billion in fiscal 2026 revenue through its commercial partnerships with the AI firm.
Given that both OpenAI and Anthropic operate as private entities, market participants frequently utilize Microsoft and Oracle shares as proxy investments for AI growth exposure.
Anthropic, OpenAI’s primary competitor, demonstrates similarly impressive expansion. The company achieved a $65 billion annualized revenue run rate by late July.
This figure represents more than a sevenfold increase from its late 2025 performance. Reuters obtained access to a preliminary IPO filing revealing that Anthropic’s booked revenue multiplied twelve times to approximately $4.6 billion annually.
The document also revealed $518 billion in upcoming cloud infrastructure and computing commitments. Notably, it contained a risk disclosure acknowledging that its artificial intelligence technology might present what the company termed an “existential risk” to humanity.
Currently, both OpenAI and Anthropic maintain private company status. However, industry analysts expect this situation may shift as both organizations appear positioned for eventual stock market debuts.
An Anthropic IPO would establish the first publicly traded valuation for a company focused exclusively on generative artificial intelligence. This milestone would enable direct market-based comparisons between the two competitors.
Should OpenAI go public, the company would need to disclose audited financial statements covering both revenues and expenses. Such transparency would eliminate existing uncertainties regarding operational costs.
Following a March 2026 funding round, OpenAI achieved an $852 billion valuation. The Financial Times has reported preliminary discussions suggesting a potential $1.2 trillion valuation.
Shareholders in Microsoft, Oracle, and semiconductor manufacturers are monitoring these trends carefully. A public offering from either AI laboratory is anticipated to serve as a benchmark case for the broader artificial intelligence infrastructure industry.
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