OpenAI heading toward $40 billion in annualized revenue as it prepares for listing

The news that the morning had not reported concerns the economic scale of the artificial intelligence sector, and it arrives on the eve of a listing. According to people familiar with the matter cited by Bloomberg, OpenAI is on track to generate annualized revenue exceeding $40 billion: roughly double the pace recorded at the end of 2025.

The figure must be handled for what it is. It is not a certified balance sheet nor a final annual revenue figure, but a twelve-month projection of current revenue, reported by confidential sources rather than through an official company communication. The acceleration, according to the same account, is attributed to three components: growth in artificial intelligence-based coding programs, subscription sales, and advertising activity, which is still at an early stage.

The path toward the stock market

On June 8, 2026, OpenAI had announced that it had confidentially filed preliminary documentation for an initial public offering with the SEC, the U.S. markets oversight authority (CNBC, PBS News). The form of the announcement is unusual, since a confidential filing exists precisely so as not to be made public: the company disclosed it anyway, explaining that it expected the news to leak regardless, “We expect it to leak, so we’re announcing it” (translation from English).

The most recent post-financing valuation communicated by the company is $852 billion. Comparing this figure to the forty billion dollars in annualized revenue points to a ratio above twenty times: this is the number on which those pricing the deal will focus.

Item	Value
Annualized revenue (sources cited by Bloomberg)	over $40 billion
Change from end of 2025	roughly double
Post-financing valuation communicated	$852 billion
Confidential SEC prospectus filing	June 8, 2026

OpenAI is not alone on this path: Anthropic had announced on June 1, 2026 that it was moving toward a listing, and SpaceX has begun its own round of investor presentations. In the August 14 session, investors were watching the San Francisco company’s listing plans.

The infrastructure side

Capital is not moving only on models, but on the components that make them work. Asian stock markets on August 14 showed a rally led by semiconductors in South Korea, with the Kospi up more than 2%, driven by demand for artificial intelligence memory chips (STL.News, Regal Discount Securities).

The movement is not uniform along the chain. Shares of Applied Materials, a semiconductor equipment maker, fell despite quarterly results above expectations: those selling machinery to manufacture chips are not rewarded with the same automatic response as those selling the chips themselves. According to Bloomberg, U.S. stocks stayed close to record highs also on optimism over the artificial intelligence sector.

The next verifiable step is the publication of the prospectus: as long as the filing remains confidential, OpenAI’s figures remain those reported by sources rather than by publicly filed documents.