TLDR
- OpenAI’s annualized revenue run rate has surpassed $40 billion, more than doubling from late 2025
- Monthly revenue grew over 20% in July, driven by AI coding tools, subscriptions, and advertising
- Anthropic’s CFO is holding early investor meetings ahead of a potential IPO this fall
- Both OpenAI and Anthropic have filed confidential IPO paperwork with Anthropic expected to list first
- OpenAI cut prices on some models to compete against Anthropic and Chinese rivals
OpenAI’s annualized revenue run rate has crossed $40 billion, according to people familiar with the matter. That is more than double the $20 billion run rate the company reported at the end of 2025.
OpenAI’s annualized revenue has topped $40B, roughly double its end-2025 run rate. July run-rate revenue rose 20%+ MoM, driven by Codex, subscriptions and early ad sales. – Bloomberg pic.twitter.com/yB2lEQe4Fk
— Wall St Engine (@wallstengine) August 13, 2026
The growth has been driven by demand for AI coding tools, subscription sales, and a growing advertising business. OpenAI’s enterprise products, including Codex and ChatGPT Work, have seen rising adoption in recent months.
OpenAI co-founder and President Greg Brockman shared the revenue update internally when announcing a new chief revenue officer. He noted that monthly revenue run rate grew by more than 20% in July alone.
This is the second new chief revenue officer OpenAI has hired in less than a year. The latest hire comes from the cybersecurity industry.
IPO Plans Take Shape
Both OpenAI and Anthropic have filed confidential paperwork to go public. Anthropic is expected to list on Wall Street first, potentially as soon as this fall.
Anthropic’s CFO Krishna Rao has begun holding early meetings with prospective investors. These are described as informational briefings rather than a formal roadshow.
Anthropic executives have not shared specific valuation targets or detailed financial forecasts in these meetings. The presentations have focused on product milestones and enterprise adoption of its Claude AI models.
Anthropic said in May that its own revenue run rate had crossed $47 billion. The two companies may measure run rate differently, so direct comparisons are difficult.
Competition Drives Pricing Changes
OpenAI and Anthropic are competing heavily for enterprise customers. To stay competitive, OpenAI has reduced prices on some of its models.
The price cuts are aimed at customers who are weighing costs against Chinese AI alternatives. OpenAI is trying to hold its ground while also growing revenue.
Despite the competition, OpenAI’s core consumer business continues to grow. ChatGPT remains a major driver of subscription revenue.
Anthropic has also gained ground with enterprise customers through its Claude coding assistant. The company was once seen as the underdog but has grown quickly.
OpenAI declined to comment on its revenue figures. Both companies are moving quickly as they prepare for their respective public listings.
The race to IPO between two of the largest AI companies marks a key moment for the broader AI industry.
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