(Bloomberg) — OpenAI is on track to generate annualized revenue of roughly $50 billion based on its current performance, according to people familiar with the matter, an uptick from the prior year but less than some recently reported estimates for the ChatGPT maker.
Some outlets reported last month that OpenAI was already on track to generate nearly $70 billion in annualized revenue.
The Financial Times earlier reported the new financial estimate. The discrepancy is due to attempts by OpenAI’s investors to more directly compare its figures to rival Anthropic PBC, including how it accounts for sales through cloud providers, the newspaper said, citing a person familiar with the matter.
OpenAI did not respond to a request for comment.
OpenAI, Anthropic and other AI firms have often touted their annualized revenue — a projection of annual sales based on a shorter period — as a key growth metric. However, not all companies measure it the same way. Anthropic’s annualized revenue hit $65 billion by the end of July, Bloomberg News previously reported.
OpenAI is locked in a fierce battle with Anthropic to sign up more business customers. Both firms have filed confidential paperwork to go public, with Anthropic expected to IPO as soon as this fall. OpenAI has said it no longer expects to IPO this year, as it focuses on addressing safety concerns from its technology.
The ChatGPT maker is currently in discussions with investors to raise $30 billion or more in a funding round that would value the firm at about $1.4 trillion, Bloomberg News has reported.
OpenAI was previously on pace for more than $40 billion in annualized revenue, Bloomberg News reported in August. The company has seen an acceleration in sales as businesses embrace its newer models and coding tools.
(Updates with more context throughout.)
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