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No public statement in the reports reviewed confirms that OpenAI expects to reach $70 billion in annualized revenue by the end of 2026. Axios first reported a near-$70 billion annualized run rate on September 29, 2026, then reported on October 8 that OpenAI’s own annualized revenue was about $50 billion and that the larger figure reflected an adjustment for comparison with Anthropic.

What the $70 billion figure actually described

Axios’s September 29, 2026 report said OpenAI’s annualized revenue run rate was nearing $70 billion, citing sources familiar with the company’s finances. The report also said the run rate had increased more than 70% since the beginning of the third quarter, while business-to-business revenue had risen more than 100% over that period. These were claims attributed to sources in a news report, not figures from a published audited statement. Axios, September 29, 2026

A run rate takes sales from a period and projects them across a year. It is not the same as revenue actually earned over a full year, and it does not by itself establish a future target. The September report therefore does not show that OpenAI forecast $70 billion in annualized revenue by December 31, 2026.

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Why Axios later reported about $50 billion

On October 8, Axios reported that OpenAI’s own annualized revenue was about $50 billion—roughly $20 billion below the previously reported figure. Axios described $70 billion as a gross-up intended to make OpenAI’s figure more directly comparable with Anthropic’s revenue tally. Axios, October 8, 2026

The accounting explanation in that report concerns certain cloud-partner sales. Axios said Anthropic includes revenue from cloud partner sales, while OpenAI records only its share of certain partner sales. The difference reflects how the companies account for their roles in a transaction, including factors such as control of the customer relationship and responsibility for delivering the product. Axios said both companies are GAAP compliant; the reported distinction is not evidence that either company is noncompliant.

The October account attributed its explanation to Francine McKenna, an accounting professor and author of The Dig newsletter. It did not provide a public, audited reconciliation showing exactly how the two amounts were calculated. Axios also noted that public-market investors generally prefer actual revenue to a run-rate construct.

How to read the figures

Figure Publication and source What it represents What it does not establish
Nearly $70 billion Axios, September 29, 2026; based on sources familiar with OpenAI’s finances A reported annualized run rate, later characterized by Axios as a grossed-up comparison with Anthropic An official OpenAI year-end forecast or full-year revenue result
About $50 billion Axios, October 8, 2026; described as OpenAI’s own annualized revenue A reported annualized figure using OpenAI’s treatment of certain partner sales An audited reconciliation with the earlier figure or actual full-year revenue
$2 billion per month OpenAI, March 31, 2026 OpenAI’s company-reported monthly revenue at the time of its announcement Confirmation of the later $50 billion or $70 billion run-rate reports

OpenAI’s March 31 announcement said, “We are now generating $2B in revenue per month.” That is a company-reported monthly figure as of that announcement, not an audited annual total and not a confirmation of the later Axios comparison. OpenAI, March 31, 2026

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What OpenAI said about enterprise revenue

In an April 8, 2026 enterprise note, OpenAI Chief Revenue Officer Denise Dresser wrote that enterprise made up more than 40% of revenue and was “on track to reach parity with consumer by the end of 2026.” OpenAI also stated in its March 31 company announcement that enterprise represented more than 40% of revenue. These are company-reported statements about revenue mix and outlook; neither says OpenAI expected $70 billion in annualized revenue by year-end. OpenAI, April 8, 2026

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What is and is not confirmed

The available reports describe different annualized amounts and explain the difference as a comparison involving partner-sales accounting. They do not establish the precise underlying period for every run-rate calculation, provide a public reconciliation between approximately $50 billion and nearly $70 billion, or verify either number against audited financial statements. On the evidence reported, the accurate description is that Axios reported a near-$70 billion grossed-up comparison in September and about $50 billion as OpenAI’s own annualized figure in October—not that OpenAI publicly announced a $70 billion end-of-2026 target.

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