OpenAI has told employees that its business continues to grow rapidly as it competes with rivals in the AI market and prepares for a potential public listing. During an internal meeting, the company highlighted strong revenue growth, new product launches, and increasing enterprise adoption.
According to a report, OpenAI Chief Financial Officer Sarah Friar told employees that the company’s annualized recurring revenue in July exceeded the revenue generated during the entire second quarter. “And Q2 was no slouch,” Friar said during the meeting.
Friar and OpenAI Board Chair Bret Taylor said the company’s momentum has been driven by the launch of the GPT-5.6 model series, the introduction of the ChatGPT Work enterprise agent, and growing adoption of its AI coding tool, Codex.
OpenAI is under pressure to support its $852 billion valuation as it moves toward a potential IPO. The company faces increasing competition from Anthropic, Google, and lower-cost open-source AI models, including Moonshot AI’s Kimi K3, which claims to match or outperform leading U.S. AI models on some benchmarks.
To support its long-term growth, OpenAI is focusing on attracting more enterprise customers and developers. Earlier this year, the company told investors it plans to invest around $600 billion in computing infrastructure by 2030. It is also reportedly discussing a funding arrangement with Nvidia of up to $250 billion to help lease a large AI data center in Ohio.
Bret Taylor acknowledged that Anthropic gained an early lead in AI coding tools but said OpenAI is seeing strong momentum with Codex. “You’re seeing people who went deep on Claude Code, ended up with a very high bill, and started looking for an alternative,” he said.
Reports also indicate that both OpenAI and Anthropic confidentially filed for IPOs with the U.S. Securities and Exchange Commission in June, although neither company has announced a timeline for going public.
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