OpenAI’s annualized revenue run rate stood at approximately $50 billion at the end of September 2026, according to the Financial Times, while investors had been expecting a figure closer to $70 billion. This $20 billion gap stems from different accounting methods: OpenAI reports revenue on a net basis, whereas investors had been applying a gross methodology similar to Anthropic’s. The company nonetheless reported 77% overall run-rate growth in the third quarter and a 107% increase in enterprise revenue. OpenAI remains optimistic about reaching at least $70 billion in annualized revenue by year end, on its own net accounting terms. Oracle shares fell 5% on October 8, illustrating the market impact of this accounting discrepancy.
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