> ## Content Index > Fetch the complete content index at: https://www.implicator.ai/llms.txt > Use this file to discover other available public pages before exploring further. # OpenAI Puts Revenue Run Rate Near $50 Billion, Sets $70 Billion Year-End Target - URL: https://www.implicator.ai/openai-puts-revenue-run-rate-near-50-billion-sets-70-billion-year-end-target/ - Published: 2026-10-09T14:07:14.000Z - Updated: 2026-10-09T14:07:14.000Z - Description: OpenAI told investors its annualized revenue was about $50 billion at the end of September and expects $70 billion or more by year-end. The higher figure that circulated earlier counted gross cloud-partner sales. Tech stocks fell as OpenAI seeks a $1.4 trillion valuation. - Author: Marcus Schuler - Tags: AI News OpenAI told investors its [annualized revenue was about $50 billion at the end of September](https://www.cnbc.com/2026/10/08/open-ai-revenue-nvidia-oracle-coreweave.html?ref=implicator.ai) and expects to [reach $70 billion or more by year-end](https://finance.yahoo.com/technology/ai/articles/openai-expects-70-billion-annualized-014338719.html?ref=implicator.ai). The nearly $70 billion figure that circulated in late September counted the full value of sales made through cloud partners, the way rival Anthropic does. Technology stocks fell Thursday after the lower figure surfaced, as OpenAI held talks for another private funding round. What Changed - OpenAI told investors its annualized revenue was about $50 billion at the end of September, and it expects to reach $70 billion or more by year-end. - The nearly $70 billion figure that circulated in late September counted the full value of cloud-partner sales, the way Anthropic does. OpenAI records only its share of certain partner sales. - Reaching the year-end target means a run-rate increase of roughly 40% in about one quarter. In the third quarter, run-rate growth was 77%. - The Nasdaq Composite fell 1.25% on Thursday, its worst day since mid-August, while OpenAI held talks to raise $30 billion or more at a $1.4 trillion valuation. AI-generated summary, reviewed by an editor. [More on our AI guidelines](https://www.implicator.ai/about/). ## Accounting for partner sales Anthropic [books the full value of sales through cloud partners](https://www.axios.com/2026/10/08/openai-50-billion-arr-anthropic-revenue-accounting?ref=implicator.ai) as revenue and records the partner’s cut as an expense. OpenAI records only its share of certain partner sales. Both approaches comply with U.S. generally accepted accounting principles. If a customer pays $100 for an AI service through a cloud provider, Anthropic can record that entire payment as revenue, said Francine McKenna, an accounting professor who writes the newsletter The Dig. The accounting distinction depends on which company controls the customer relationship and takes responsibility for delivering the product, McKenna said. A person familiar with the matter said investors wanted a comparable figure calculated using Anthropic’s method. The person said the higher figure, roughly $20 billion above OpenAI’s September run rate, did not come from OpenAI. These run-rate figures are unaudited, and OpenAI’s investor presentation has not been published. Annualizing revenue typically means multiplying one month’s sales by 12. ## Enterprise growth OpenAI expects enterprise sales to drive much of its growth through the end of 2026, people familiar with the matter said. FREE · ABOUT FIVE MINUTES Track the money behind the AI labs. Implicator cuts the flood to the developments worth your attention, with concise reporting on what changed and why it matters. Delivered every weekday at 4:45 a.m. Pacific, 7:45 a.m. Eastern. Email address Get the free briefing Check your inbox for the confirmation link. From San Francisco. No spam. Unsubscribe anytime. Its investor presentation showed total run-rate growth of 77% during the third quarter, with enterprise growth reaching 107% over the same period. Moving from its September run rate to the year-end target would require an increase of roughly 40% in about one quarter. OpenAI began 2026 with annualized revenue of $20 billion. Anthropic’s run rate reached $65 billion at the end of July. It also overtook OpenAI in [quarterly revenue for the first time in the second quarter](https://economictimes.indiatimes.com/tech/artificial-intelligence/openais-september-annualized-revenue-nears-50-billion-less-than-previously-indicated/articleshow/134804307.cms?ref=implicator.ai), recording $11.5 billion against OpenAI’s $6.7 billion. Anthropic’s figures include the full value of its cloud-partner sales, which accounted for half its revenue last year, and it pays those partners about 16% of every dollar earned through them. ## Stocks fall The [Nasdaq Composite fell 1.25% on Thursday](http://www.cnn.com/2026/10/08/investing/openai-nasdaq-stocks?ref=implicator.ai), its worst day since mid-August. Oracle lost about 5.5%, while CoreWeave fell nearly 8%. Ross Mayfield, an investment strategist at Baird, said uncertainty about AI demand could spread through the companies supplying the industry’s computing capacity. “There are going to be tremors throughout all of the related sub-industries,” Mayfield said. Know someone who'd find this useful? [✉️ Email it to a friend in one click](mailto:?subject=A%20newsletter%20I%20think%20you%27d%20like&body=This%20is%20one%20of%20maybe%20three%20newsletters%20I%20actually%20read.%20The%20rest%20just%20pile%20up%2C%20unread%2C%20judging%20me.%0A%0AAnd%20yes%2C%20this%20email%20mostly%20wrote%20itself%2C%20which%20is%20a%20little%20on%20the%20nose%20for%20an%20AI%20newsletter.%20Doesn%27t%20make%20it%20wrong.%20implicator.ai%20is%20good.%0A%0ASubscribe%20free%3A%20https%3A%2F%2Fwww.implicator.ai%2Fsubscribe%2F%3Futm%5Fsource%3Dnewsletter%26utm%5Fmedium%3Dforward%26utm%5Fcampaign%3Demail%5Fforward), or they can [subscribe free here](https://www.implicator.ai/subscribe/?utm%5Fsource=newsletter&utm%5Fmedium=forward&utm%5Fcampaign=forward%5Fto%5Fcolleague). Other stock-market sectors have struggled under rising bond yields while AI shares have supported the indexes. “This has become a much narrower market that's dependent on the AI names to keep it afloat,” Mayfield said. ## Fundraising talks OpenAI shared the revenue figures during discussions to raise $30 billion or more at a $1.4 trillion valuation before the new investment. Abu Dhabi’s MGX is among the United Arab Emirates funds in talks to anchor the round. The company last raised $122 billion in March at an $852 billion valuation including the new money. In 2025, it recorded revenue of $13.07 billion and a net loss of $38.5 billion. OpenAI declined to comment. OpenAI has pushed its initial public offering to 2027 at the earliest. Anthropic is expected to sell shares in an IPO as soon as November. Frequently Asked Questions What annualized revenue did OpenAI report to investors? OpenAI told investors its annualized revenue was about $50 billion at the end of September. It also expects to reach $70 billion or more by the end of 2026, driven largely by enterprise sales, according to people familiar with the matter. Why did a $70 billion figure circulate earlier? The nearly $70 billion figure that circulated in late September counted the full value of sales made through cloud partners, the way Anthropic counts its revenue. A person familiar with the matter said investors wanted a comparable figure and that the higher number did not come from OpenAI. How do OpenAI and Anthropic count partner sales differently? Anthropic books the full value of sales through cloud partners as revenue and records the partner's cut as an expense. OpenAI records only its share of certain partner sales. Both approaches comply with U.S. generally accepted accounting principles. Are these revenue figures audited? No. The run-rate figures are unaudited, and OpenAI's investor presentation has not been published. Annualizing revenue typically means multiplying one month's sales by 12. How did markets react? The Nasdaq Composite fell 1.25% on Thursday, its worst day since mid-August. Oracle lost about 5.5% and CoreWeave fell nearly 8%. AI-generated summary, reviewed by an editor. [More on our AI guidelines](https://www.implicator.ai/about/). [Naive AI Hits $1.4 Billion Valuation After Raising $400 Million in Seven MonthsNaive AI has raised $400 million at a $1.42 billion valuation. The figures come from one unnamed person with direct knowledge cited in The Information’s exclusive, and Naive AI has not confirmed the fThe Implicator![](https://www.implicator.ai/content/images/2026/09/20260918-naive-ai-1-4-billion-valuation.webp)](https://www.implicator.ai/naive-ai-1-4-billion-valuation-400-million-raise/) [OpenAI and Anthropic Drive California Venture Funding to $366 BillionCalifornia-based companies have announced $366 billion in venture funding since the start of 2026, a state record as of Aug. 20\. OpenAI and Anthropic supplied more than half of that total through a haThe Implicator![](https://www.implicator.ai/content/images/2026/08/2026-08-20-05.37.47-venture-balance@2x.webp)](https://www.implicator.ai/openai-anthropic-california-venture-funding/) [Nvidia Enlists Six Wall Street Firms to Target $500 Billion for AI ComputeOn Monday, August 10, Nvidia announced that it is assembling financing platforms with six of the largest Wall Street firms, aimed at more than $500 billion in outside capital for AI infrastructure. WiThe Implicator![](https://www.implicator.ai/content/images/2026/08/2026-08-11-01.36.04-nvidia-six-wall-street-firms-500-billion-ai-compute@2x.webp)](https://www.implicator.ai/nvidia-enlists-six-wall-street-firms-to-target-500-billion-for-ai-compute/)