On Tuesday, Axios quoted unnamed sources familiar with the matter as reporting that based on OpenAI's current performance, the company's annualized revenue will be close to 70 billion US dollars, thanks to strong corporate and consumer business growth. Earlier in August, it was reported that the ChatGPT developer's annualized revenue at the time was expected to exceed 40 billion US dollars. OpenAI's revenue growth has accelerated in recent months, partly driven by the growth of its AI programming software business. OpenAI is competing fiercely with long-time competitor Anthropic PBC for more enterprise customers. Both companies have submitted listing documents confidentially, and Anthropic expects to conduct an initial public offering as soon as this fall. OpenAI said it is no longer anticipating an IPO this year as the company focuses on addressing security concerns raised by technology.

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