OpenAI revenue keeps surging as company seeks $30 billion in fresh capital
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OpenAI is seeking $30 billion in fresh capital at a target pre-money valuation of $1.4 trillion, driven by its rapidly expanding enterprise business. The company reported an annualized revenue rate of approximately $50 billion as of late September, though it expects to reach at least $70 billion by the end of 2026. A discrepancy between OpenAI's and Anthropic's reported figures stems from different accounting methods for partner sales, both of which comply with US GAAP standards. Following reports of this financial data, tech stocks experienced a significant selloff, reflecting market nervousness about AI valuations. This volatility has contributed to OpenAI delaying its public offering until next year, a move CEO Sam Altman attributes partly to safety risks but which was planned earlier due to missed internal growth targets. Despite the delay, OpenAI’s third-quarter revenue grew 77 percent annually, with enterprise revenue jumping 107 percent. The company currently boasts over 1.2 billion weekly ChatGPT users and 2.5 million businesses using its products. These developments intensify the debate on whether AI revenue growth can sustain the massive spending required for compute infrastructure.
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