OpenAI Achieves $70B Annual Revenue Run Rate at DevDay 2026 Amidst IPO Speculation

OpenAI has reached an impressive annualized revenue run rate of nearly $70 billion. This signifies a remarkable 70% increase since the beginning of Q3 2026, as reported by Axios and confirmed by insiders familiar with the company’s financial status. This milestone was announced on the same day as the company’s annual DevDay developer conference in San Francisco. CEO Sam Altman took the opportunity to announce over 20 new product launches.

The growth of OpenAI is widespread and rapidly accelerating. The company’s business-to-business revenue has more than doubled since July 2026. Furthermore, the consumer revenue generated in Q3 alone has already surpassed the company’s entire consumer revenue for 2025. This expansion is primarily driven by enterprise subscriptions, the Codex AI coding tool, and a budding advertising business. Just last month, Bloomberg reported the company’s run rate at $40 billion, indicating that the revenue has nearly doubled in a matter of weeks.

OpenAI is currently preparing for a highly anticipated IPO, having confidentially filed its prospectus with regulators in June. The company was most recently valued at $852 billion after a $122 billion funding round in March 2026. Following the Axios report, Oracle shares jumped 7%, reflecting investor enthusiasm for OpenAI’s commercial momentum.

Source: CNBC – OpenAI DevDay 2026: Live Updates