Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. OpenAI's annualized revenue has topped $40 billion, roughly double its level at the end of 2025, with President Greg Brockman saying the run rate jumped more than 20% in July alone. The surge comes just as the price of AI is falling.
Prices for leading U.S. models have dropped by almost a quarter since mid-July, according to Silicon Data's token price index, amid intensifying competition from cheaper Chinese rivals such as DeepSeek and Moonshot, the Financial Times reported. That sets up the central test of OpenAI's reported push toward a $1 trillion initial public offering: whether explosive growth in usage can outrun falling prices and heavy compute costs. OpenAI said in March it was generating $2 billion per month, or roughly $24 billion annualized, with more than 900 million weekly ChatGPT users and over 50 million paying subscribers.
Enterprise customers accounted for more than 40% of revenue. The new figure implies the run rate has grown at least 67% since late March. Bloomberg said the acceleration has been driven partly by OpenAI's coding software, subscription sales and emerging advertising business, while demand for agents including Codex and ChatGPT Work has also jumped.
Companies including DoorDash (NASDAQ:DASH) and Airbnb (NASDAQ:ABNB) have started using Chinese-made models to rein in their AI bills, per the same report. OpenAI has cut the price of GPT-5.6 Luna by 80% and Terra by 20%, while leaving its flagship Sol unchanged. Anthropic scrapped a planned September price increase for Sonnet 5 and launched Opus 5 at half the price of its top model, Fable 5.
OpenAI says improvements to its inference systems have reduced the end-to-end cost of serving GPT-5.6 by 20% and lifted token-generation efficiency by more than 15%. Early OpenRouter data suggests the price cuts may already be stimulating enough additional usage to offset lower prices. TD Cowen, analyzing OpenRouter data after the July 30 cuts, found Luna consumption jumped roughly 14-fold while Terra usage rose about fivefold, per Business Insider.
The analysts estimated OpenRouter revenue climbed 34% for Luna and 45% for Terra versus the preceding seven days. The Microsoft (NASDAQ:MSFT)-backed startup reportedly reached an $852 billion valuation in March. A $1 trillion listing would value the company at roughly 25 times its current annualized revenue run rate.
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