OpenAI Tells Investors Revenue Hit $50B, Below Circulated $68B
OpenAI's annualized revenue reached about $50 billion by the end of September, sending Nvidia, Oracle and CoreWeave shares lower.
OpenAI told investors that its annualized revenue was about $50 billion as of the end of September, a figure below the $68 billion that circulated widely in late September, according to digitaltoday.co.kr. The disclosure was followed by declines in shares of AI-related companies, including Nvidia, Oracle and CoreWeave.
The company said its overall annualized growth rate in the third quarter was 77%, while its enterprise business grew at an annualized rate of 107%.
OpenAI is in early-stage discussions to raise about $30 billion in new funding, with terms not yet finalized, the report said.
Background
In June, OpenAI confidentially submitted pre-IPO paperwork to regulators, and executives have indicated an IPO is being considered for 2027. In March, the company completed a $122 billion funding round.
Quick answers
What was OpenAI's annualized revenue at the end of September?
OpenAI told investors its annualized revenue was about $50 billion as of the end of September.
How did AI-related stocks react to the revenue figure?
Shares of Nvidia, Oracle and CoreWeave fell following the report.
Is OpenAI raising new funding?
OpenAI is in early-stage discussions to raise about $30 billion in new funding, with terms not yet finalized.