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OpenAI's Revenue Is Reportedly $20 Billion Less than Previously Projected
OpenAI said the lower figure reflects a different revenue calculation as it seeks to justify its $852 billion valuation and prepare for an IPO.
On Thursday, shares of Nvidia, Oracle, and CoreWeave sank after The Financial Times reported OpenAI's annualized revenue is approaching $50 billion, significantly lower than the $68 billion figure previously circulated.
Previous revenue estimates of $70 billion stemmed from investor attempts to produce direct comparisons with rival Anthropic's annualized earnings, according to The Financial Times report.
OpenAI touted 77% total run rate growth and 107% enterprise growth during the third quarter, though earlier 2025 financials showed the company earned about $13 billion.
Executives signaled the company's anticipated IPO has been pushed off until early 2027, as OpenAI faces mounting pressure to justify its $852 billion valuation to investors.
Following a historic $122 billion funding round in March, CFO Sarah Friar stated last week the company remains "very well capitalized" amid early-stage discussions about potential new funding.
OpenAI's annualized revenue is about $20 billion below the previously reported value, according to financial documents presented to investors, which significantly shades expectations regarding the growth in demand for artificial intelligence, the Financial Times reports.