OpenAI has reached a major financial milestone, reporting a $10 billion annualized revenue run rate—nearly double its late 2024 figure.

The growth is largely attributed to the massive uptake of ChatGPT, which now boasts over 500 million weekly active users and around 3 million paying business subscribers. This recurring revenue excludes large one-time enterprise deals and Microsoft licensing revenue, emphasizing organic demand from consumers and enterprises alike.

Despite incurring an estimated $5 billion in net losses last year due to infrastructure and research investments, OpenAI is now on track to reach $12.7 billion in annual revenue by the end of 2025.

The announcement comes amid reports that OpenAI is preparing for a $40 billion funding round, potentially led by SoftBank, which would push its valuation close to $300 billion. This would further strengthen its lead over rivals like Anthropic, which has reportedly crossed the $3 billion ARR mark.

OpenAI’s strong revenue performance reinforces its position as a global AI leader, driven by user growth, enterprise adoption, and a strategy of blending consumer-facing products with powerful developer tools.