OpenAI's annualized revenue aims for $70 billions, with enterprise business as a driving force
According to sources familiar with the matter, OpenAI is expected to reach or exceed an annualized revenue of 7 billion dollars by the end of this year, mainly driven by the growth of its enterprise business.
According to information obtained by Zhihu Finance APP, OpenAI is expected to reach or exceed an annualized revenue of $70 billion by the end of this year, primarily driven by enterprise business growth. These sources said that as of the end of September, the ChatGPT developer's annualized revenue was about $50 billion. This figure is based on projections from a shorter period of OpenAI’s annual sales.
The sources indicated that the company shared these figures with investors during discussions for the latest round of financing. In September, it was first reported that OpenAI was in talks to raise $30 billion or more with a pre-money valuation of $1.4 trillion.
OpenAI, Anthropic, and other AI companies often promote annualized revenue as a key growth metric. However, not all companies use the same method for calculation. According to earlier reports, Anthropic's annualized revenue reached $65 billion as of the end of July.
Some media reported last month that, based on investors’ estimates, OpenAI was expected to have annualized revenue close to $70 billion. It was reported on Thursday that this discrepancy arose because OpenAI's investors tried to use the same method as competitor Anthropic PBC to calculate OpenAI’s annualized revenue, whereas Anthropic treats the sales to cloud service providers differently.
On Thursday, after reports that OpenAI's annualized revenue would be below some previous estimates, tech stocks led the decline in the S&P 500 index. The Nasdaq 100 index fell 1.4%, and the semiconductor giant index dropped 3.4%.
Although OpenAI has postponed its IPO plans until at least next year, citing a focus on AI safety, Anthropic is expected to sell shares in an IPO as early as November.
It is reported that OpenAI is negotiating with several investment funds from the United Arab Emirates, including MGX, which is headquartered in Abu Dhabi, to help anchor its new funding round.
The company recently completed a $122 billion round of financing in March, bringing its valuation to $852 billion including this capital.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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