OpenAI Revenue Revised Down to $50B as Investors Correct Calculation Errors

Key points

• OpenAI's annualized revenue is now estimated at $50 billion, down from the previously reported $70 billion.
• The discrepancy arose because investors incorrectly added a 70% growth figure to an existing $40 billion revenue baseline.
• The revised $50 billion figure places OpenAI behind rival Anthropic, which reports $65 billion in annualized sales.
• OpenAI is expected to launch its IPO in early 2027, while Anthropic is rumored to file its S-1 prospectus before Thanksgiving 2026.
• Both companies are competing for enterprise customers with new products, including OpenAI's Dots AI agents and GPT-6.1 Sol model.

Background

In late September 2026, OpenAI was reported to have reached a $70 billion annualized revenue run rate, driven by enterprise adoption and ChatGPT advertising. This figure was seen as a significant acceleration from the $40 billion run rate reported in August. The current revision corrects this earlier estimate, highlighting the volatility in private AI company valuations ahead of their public listings.

Why it matters

The correction of OpenAI's revenue figures impacts the valuation expectations for its upcoming IPO and the competitive landscape against Anthropic. A lower revenue figure may affect investor sentiment and the timing of public market entries for both AI giants.

What to watch

Investors will monitor OpenAI's IPO preparations in early 2027 and Anthropic's S-1 filing before Thanksgiving 2026. The companies will continue to compete for enterprise customers with new AI agent products, including OpenAI's Dots AI agents and GPT-6.1 Sol model.