OpenAI targets $70B annualized revenue by end of 2026, up from $50B in September

OpenAI plans to increase its annualized revenue to $70 billion or more by the end of 2026, up from about $50 billion as of late September, according to Bloomberg. The company disclosed this target to investors during discussions for a new funding round. Bloomberg previously reported OpenAI is negotiating to raise at least $30 billion at a valuation of $1.4 trillion, excluding new investments. An earlier Axios report estimating OpenAI's revenue near $70 billion was based on a methodology used by rival Anthropic, whose annualized revenue reached $65 billion by late July. OpenAI has delayed its IPO until at least 2027.