OpenAI Projects $40 Billion in Annualized Revenue as IPO Nears, Accelerating Growth (Comprehensive)

There are reports that OpenAI’s current run rate revenue has surpassed 40 billion dollars (about 56.812 trillion won). This is roughly double the figure compared to the end of last year. With the company targeting an IPO next year, this positive news comes as OpenAI has also appointed a new Chief Revenue Officer (CRO), which is expected to further accelerate its revenue growth.

Reuters Yonhap News

According to Bloomberg News on the 13th (local time), citing sources, OpenAI, the developer of ChatGPT, has seen revenue surge over the past few months, with its annualized revenue expected to exceed 40 billion dollars. This is about twice the annualized revenue figure at the end of last year.

According to an internal memo shared with employees by Greg Brockman, President of OpenAI, the company’s annualized revenue in July rose more than 20% from the previous month. In particular, revenue from the enterprise customer segment increased by 32%. Sources said that the growth of the artificial intelligence (AI) coding software business had a significant impact on boosting revenue, and that revenue from subscriptions and the nascent advertising business also contributed. The core consumer business has also continued to show steady growth.

OpenAI is engaged in fierce competition with its rival Anthropic to secure more corporate clients. While Anthropic was once seen as trailing OpenAI, it has experienced rapid growth by introducing AI tools that streamline complex work such as coding. In May, Anthropic announced that its annualized revenue had surpassed 4.7 billion dollars. However, Bloomberg noted it remains unclear whether both companies calculate their annualized revenue in the same way.

Recently, OpenAI has been making a flurry of high-level executive appointments ahead of its IPO, accelerating efforts to expand revenue. On this day, OpenAI announced that it has hired Dali Rajic, former President and Chief Operating Officer (COO) of Wiz—a cloud security company acquired by Google—as its new CRO. Rajic succeeds Dennis Dresser, who was hired as CRO in December last year. Dresser is expected to leave the company after a transition period. This marks the second time in less than a year that OpenAI has appointed a new CRO.

This latest personnel move is part of an ongoing restructuring of OpenAI's top executive team. Former COO Brad Lightcap announced on the 11th that he was resigning to start a new venture, while Fiji Simo, who oversaw a significant portion of OpenAI's core business, left her full-time position last month after taking a leave of absence for health reasons. Former Chief Product Officer (CPO) Kevin Weil also departed the company in April.

This content was produced with the assistance of AI translation services.