San Francisco, CA — OpenAI, the artificial intelligence research and deployment company behind ChatGPT, has reportedly surpassed $25 billion in annualized revenue, a significant milestone that intensifies its preparations for a highly anticipated initial public offering (IPO) as early as late 2026. This exponential growth, driven by surging demand for its AI models and enterprise solutions, places the company firmly at the forefront of a booming AI market where startup valuations are reaching unprecedented highs.
The revenue figure, achieved as of late February or early March 2026, represents a 17% increase from the $21.4 billion reported at the close of 2025. This rapid acceleration follows a remarkable financial trajectory; Chief Financial Officer Sarah Friar previously confirmed that OpenAI's annualized revenue for 2025 reached $20 billion, a staggering 230% jump from $6 billion in 2024 and $2 billion in 2023. The company's diverse revenue streams include consumer subscriptions for ChatGPT, extensive API usage by developers, and growing enterprise sales, with the latter expected to constitute over 50% of total revenue by the end of 2026.
However, the ambitious 2026 IPO timeline, reportedly championed by CEO Sam Altman, is not without internal friction. Friar has privately expressed concerns regarding the company's readiness, the extensive organizational and procedural work still required, and the immense capital expenditures involved. OpenAI plans to spend an estimated $600 billion on computing power through 2030, a cost that raises questions about sustaining revenue growth to support such massive commitments. The company anticipates burning more than $200 billion before achieving steady cash flow and projects losses of $14 billion in 2026 alone, with profitability not expected until around 2030.
Despite these financial challenges, investor confidence remains robust in the AI sector. OpenAI recently closed a funding round with $122 billion in committed capital, valuing the company at approximately $852 billion. Major players like Amazon, Nvidia, and SoftBank are among the key investors. This influx of capital underscores a broader trend: AI startups attracted a record $150 billion in Silicon Valley in 2025, and nearly 50% of all global venture funding in 2025—totaling $202.3 billion—poured into the AI sector.
The pursuit of a public listing is also influenced by a competitive landscape. Rival AI firm Anthropic is reportedly also eyeing an IPO, possibly as early as October 2026, targeting a $60 billion valuation and having recently reported $19 billion in annualized revenue. OpenAI's strategic moves, including restructuring to a for-profit public benefit corporation and expanding its finance team, signal a determined push towards its market debut. The company projects an astounding total revenue of more than $280 billion by 2030, a figure that, if realized, would solidify its position as a dominant force in the global economy.
The successful IPO of OpenAI, potentially at a valuation of up to $1 trillion, would be a landmark event, not just for the company but for the entire technology industry. It would provide a crucial benchmark for the sustained investor appetite in AI, potentially greenlighting further massive investments in infrastructure and foundational models. However, the path to profitability amid intense spending and growing competition, coupled with the need for organizational maturity, will be closely scrutinized by the market as OpenAI navigates its transition from a rapidly growing startup to a publicly traded titan.