OpenAI is posting annualized revenue of approximately $50 billion as of late September 2026, up from over $40 billion in August and around $20 billion at the end of 2025. The figure falls roughly $20 billion short of the $70 billion estimates circulating in late September because OpenAI counts only its share of sales made through partners, while Anthropic includes gross revenue from cloud partners such as AWS and Google Cloud. The disclosure weighed on AI-linked stocks, with Nvidia and Oracle declining and Oracle falling more than 5% on October 8, 2026. OpenAI raised approximately $122 billion in March 2026 and is in talks to raise over $30 billion more, targeting a valuation of around $1.4 trillion and an IPO expected in 2027. The gap between the two accounting methods highlights the concentration risk in the AI sector, where one private company’s disclosures can move public stocks it does not even own.
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