OpenAI’s annualized revenue run rate has climbed to nearly $70 billion, an increase of more than 70% since the third quarter began, according to financial data reported by Axios and cited by multiple outlets, including Investing.com, on Tuesday. The figure arrived the same day as OpenAI’s annual DevDay conference in San Francisco, the company’s yearly gathering that showcases new tools for developers building on its technology. DevDay typically serves as the stage for the startup’s developer-facing product announcements.

OPENAI ARR NEARS $70B AS ENTERPRISE SALES MORE THAN DOUBLE – AXIOS

OpenAI’s annualized revenue run rate is approaching $70 billion, up more than 70% since the start of Q3, according to Axios. The biggest acceleration is coming from enterprise. Its B2B revenue has grown more… pic.twitter.com/XGkjqAXJd0

— Wall St Engine (@wallstengine) September 29, 2026

The report landed amid heightened investor scrutiny of the finances of the leading AI developers, whose rapid sales growth has been accompanied by enormous outlays on computing power.

Where the Growth Is Coming From

The acceleration is spread across several parts of OpenAI’s business, with the sharpest push coming from enterprise customers. Business-to-business revenue has more than doubled since July. Consumer revenue added in the third quarter alone has already topped all of the consumer revenue the company generated in 2025. Subscriptions, enterprise deals, the Codex coding tool and a new advertising business are all contributing.

An annualized run rate extrapolates the most recent monthly pace across a full year, making it a fast-moving but informal gauge of scale. The metric is widely used to track fast-growing private companies because it smooths month-to-month swings, though it offers no view of spending. OpenAI’s latest mark is a sharp rise from the $40 billion run rate reported last month by Bloomberg and Forbes.

Axios said it lacked full visibility into OpenAI’s expenses, which means the company’s actual profit picture remains unclear. OpenAI did not immediately respond to a request for comment from Seeking Alpha.

How Big Tech Stocks Are Reacting

Oracle shares rose between 5% and 7% after the report came out. Oracle provides cloud infrastructure to OpenAI, so investors see the stock as closely tied to the AI lab’s growth. The company has positioned itself as one of the key suppliers of the computing capacity underpinning large AI models, making its fortunes increasingly intertwined with its high-profile customer. Microsoft also has close financial ties to OpenAI, having recorded $24.1 billion in fiscal year 2026 revenue from its commercial deals with the company.

Because both OpenAI and Anthropic are private, investors often use Microsoft and Oracle shares as vehicles for gaining exposure to their growth.

Anthropic Is Expanding Fast, Too

Anthropic, OpenAI’s closest rival, is also scaling quickly. Its annualized revenue run rate crossed $65 billion by the end of July, more than seven times its run rate at the end of 2025. A draft IPO prospectus reviewed by Reuters showed Anthropic’s booked revenue rose twelvefold to nearly $4.6 billion for the year. The prospectus details emerged as Anthropic prepares for a potential public offering.

The filing also disclosed $518 billion in future cloud and computing obligations. It included a risk factor warning that its technology could pose what the company called an “existential risk” to humanity.

Public Listings Could Set Industry Benchmarks

Both OpenAI and Anthropic remain private for now. That could change soon, as both are seen as moving toward eventual public listings.

An Anthropic listing would set the first public market valuation for a company built solely around generative AI, giving investors a way to directly compare the two firms for the first time. An OpenAI listing, meanwhile, would force the company to release audited revenue and expense figures, closing the current gap in knowledge about its costs.

OpenAI was valued at $852 billion after a funding round in March 2026, and the Financial Times reported early talks around a $1.2 trillion valuation.

Until then, enterprise sales, reported computing commitments and any further public offering documents will remain key reference points for assessing how the two companies’ reported growth compares with their financial obligations.

Investors in Microsoft, Oracle and chip makers are watching these developments closely. Any future listing from either AI lab is expected to act as a test case for the wider AI infrastructure sector.

The post OpenAI vs Anthropic: Whose Revenue Is Growing Faster Right Now appeared first on CoinCentral.