Shares of Nvidia and Micron Technology are expected to rise Friday morning after OpenAI told investors it expects its annualized revenue to reach or exceed $70 billion by the end of 2026, according to Bloomberg. The projection follows a day of selling of chip stocks linked to AI development.
OpenAI shared the figures as part of discussions around a new fundraising effort, Bloomberg reported, citing people familiar with the matter who requested anonymity. The company declined to comment to Bloomberg. OpenAI’s enterprise segment is the primary driver of the projected growth.
The company also highlighted 77% total fill rate growth during its third quarter and 107% fill rate growth in its enterprise segment during the same period, according to Bloomberg.
The new projection appears to have given investors a clearer picture of OpenAI’s financial trajectory. Shares of Nvidia, Oracle and CoreWeave fell Thursday, and the Nasdaq 100 fell 1.4 percent, after OpenAI’s annualized revenue of about $50 billion as of late September was made public — a figure short of the widely cited figure of $68 billion that had been circulating among investors.
The difference between the two figures does not reflect a loss of sales. OpenAI and its rival Anthropic PBC calculate their annualized revenue differently: Anthropic counts the total gross value of sales made through cloud partners such as Amazon.com, while OpenAI only counts its own share of revenue from deals with partners including Microsoft. The $68 billion figure came from investors applying Anthropic’s methodology to OpenAI’s numbers, which then fueled reports citing numbers around $68 billion to $70 billion. Anthropic’s annualized revenue reached $65 billion at the end of July.
OpenAI is looking to raise around $30 billion in a new funding round, with no term sheet finalized, according to Bloomberg. The company negotiated a deal worth $1.4 trillion pre-money and held talks with UAE investment funds, including Abu Dhabi-based MGX. Its last previous fundraising was a $122 billion round closed in March, which valued OpenAI at $852 billion when the new capital was tallied.
OpenAI has postponed its IPO until at least next year. The company filed its prospectus with regulators in June and CEO Sam Altman has ruled out a 2026 listing.
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