---
title: "OpenAI revenue and valuation"
description: "OpenAI's revenue is estimated at $34.4B–$51.8B, last reported at $40B. Valued at $1.25T after raising $212B. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/openai.md
canonical_url: https://www.tryspecter.com/revenue-valuation/openai
publisher: Specter
last_updated: 2026-11-01
---

# OpenAI revenue and valuation

Specter estimates OpenAI's annual revenue at $34.4B to $51.8B and its valuation at $1.04T to $1.5T. The company last reported $40B revenue in September 2026 and was priced at $1.25T in November 2026.

OpenAI is an AI research and deployment company ensuring AGI benefits all of humanity.

- Estimated revenue: $34.4B to $51.8B (October 2026)
- Estimated valuation: $1.04T to $1.5T (October 2026)
- Last reported revenue: $40B (September 2026)
- Total funding: $212B
- Founded: 2015
- Headquarters: San Francisco, United States
- Employees: 11,375
- Sector: AI lab
- Specter Rank: #2,952

## OpenAI revenue

OpenAI last reported $40B revenue in September 2026. Specter's model puts current revenue between $34.4B and $51.8B, anchored to 18 reported figures.

| Reported figure | Date | Source |
| --- | --- | --- |
| $40B revenue | September 2026 | [OpenAI tops $10B in quarterly revenue for the first time, up ~50%, as operating losses widen to $10.9B](https://app.dealroom.co/news/note/openai-tops-10b-in-quarterly-revenue-for-the-first-time-up-50-as-operating-losses-widen-to-10-9b) (app.dealroom.co) |
| $50B ARR | September 2026 | [$20 billion gap: OpenAI's revenue forecast raises fresh concerns](https://www.cnbc.com/video/2026/10/09/20-billion-gap-openais-revenue-forecast-raises-fresh-concerns.html) (cnbc.com) |
| $50.4B ARR | September 2026 | [Citrini analyst questions Anthropic's growth, ARR rises just 1.8% QoQ](https://www.kucoin.com/news/flash/citrini-analyst-questions-anthropic-s-growth-arr-rises-just-1-8-qoq) (kucoin.com) |
| $26.8B revenue | June 2026 | [X post: OpenAI annualized revenue in July topped Q2, per CFO (thread discussion of Q1/Q2 revenue and margins)](https://x.com/Chrisruppert5/status/2089858011971846183) (x.com) |
| $30B revenue | April 2026 | [OpenAI to commit up to $1.5B of its own capital to DeployCo, a joint venture with PE firms valued at $10B](https://thenextweb.com/news/openai-deployco-pe-joint-venture-15-billion-enterprise) (thenextweb.com) |
| $25B ARR | April 2026 | [@negligible_cap > Will OAI still give an update even if it's less than Anthropic's $30B ARR? idk about that, but per TheInformation OpenAI…](https://x.com/stalkermustang/status/2041552179660530097) (x.com) |
| $24B revenue | March 2026 | [OpenAI closes record-breaking $122B funding round that brings its valuation to $852B](https://siliconangle.com/2026/03/31/openai-just-closed-record-breaking-122b-funding-round-brings-value-852b/) (siliconangle.com) |
| $20B revenue | December 2025 | [Why Elon Musk lost his legal battle against OpenAI (and what happens next)](https://www.wired.it/article/elon-musk-perche-ha-perso-battaglia-legale-contro-openai-cosa-succede-adesso/) (wired.it) |
| $13.1B revenue | December 2025 | [OpenAI Revises Projections Upward with $112 Billion Extra Cash Burn by 2030](https://mlq.ai/news/openai-revises-projections-upward-with-112-billion-extra-cash-burn-by-2030/) (mlq.ai) |
| $12B revenue | November 2025 | [OpenAI’s Revenue Could Reach $100 Billion in 2027, Altman Suggests](https://www.theinformation.com/briefings/openais-revenue-reach-100-billion-2027-altman-suggests) (theinformation.com) |
| $8.6B revenue | September 2025 | [OpenAI Generated $4.3 Billion in Revenue, Burned $2.5 Billion in First Half](https://www.theinformation.com/briefings/openai-generated-4-3-billion-revenue-burned-2-5-billion-first-half) (theinformation.com) |
| $13B ARR | August 2025 | [OpenAI just closed an $8.3B fundraise at a $300B valuation](https://www.linkedin.com/posts/zuhayeer_openai-just-closed-an-83b-fundraise-at-activity-7357068465096048641-mFmT) (linkedin.com) |
| $10B ARR | June 2025 | [OpenAI Breaks $10 Billion ARR Mark](https://www.gurufocus.com/news/2916535/openai-breaks-10-billion-arr-mark) (gurufocus.com) |
| $6B revenue | December 2024 | [OpenAI’s CFO just published the most important chart in AI.](https://x.com/benitoz/status/2012980743383965896) (x.com) |
| $4B revenue | December 2024 | [ChatGPT shopping, how the new mode for shopping with AI works](https://www.wired.it/article/chatgpt-shopping-come-funziona-pulsanti-acquisti/) (wired.it) |
| $3.7B revenue | December 2024 | [Open AI's plan – to generate 1900 billion SEK (already in five years)](https://www.breakit.se/artikel/43096/open-ai-s-plan-ska-dra-in-1900-miljarder-redan-om-fem-ar) (breakit.se) |
| $3.6B revenue | August 2024 | [Will You Pay 200 Dollars for Access to ChatGPT? OpenAI Announces a New Subscription Plan](https://mamstartup.pl/zaplacisz-200-dolarow-za-dostep-do-chatagpt-openai-oglasza-nowy-plan-subskrypcji/) (mamstartup.pl) |
| $2B ARR | December 2023 | [Share Google's pie? OpenAI's annual advertising revenue is projected to reach $25 billion by 2030.](https://news.futunn.com/en/post/67608224/share-google-s-pie-openai-s-annual-advertising-revenue-is) (news.futunn.com) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $42.2B | $34.4B | $51.8B |
| September 2026 | $50B | $41.6B | $60.1B |
| August 2026 | $44.4B | $36.9B | $53.3B |
| July 2026 | $42.6B | $35.4B | $51.2B |
| June 2026 | $28.4B | $23.6B | $34.1B |
| May 2026 | $33B | $27.4B | $39.7B |
| April 2026 | $25B | $20.8B | $30.1B |
| March 2026 | $17.7B | $14.7B | $21.2B |
| February 2026 | $25B | $20.8B | $30.1B |
| January 2026 | $21.4B | $17.8B | $25.7B |
| December 2025 | $20B | $16.6B | $24.1B |
| November 2025 | $12.5B | $10.4B | $15B |
| October 2025 | $12B | $9.98B | $14.4B |
| September 2025 | $9.27B | $7.71B | $11.2B |
| August 2025 | $12.5B | $10.4B | $15B |
| July 2025 | $12B | $9.98B | $14.4B |
| June 2025 | $10B | $8.32B | $12B |
| May 2025 | $13.2B | $10.7B | $16.3B |
| April 2025 | $17.3B | $14.2B | $21.1B |
| March 2025 | $22.8B | $19B | $27.4B |
| February 2025 | $12.6B | $10B | $15.9B |
| January 2025 | $6.96B | $5.7B | $8.5B |
| December 2024 | $3.85B | $3.2B | $4.63B |
| November 2024 | $3.78B | $2.94B | $4.87B |
| October 2024 | $3.72B | $3B | $4.62B |
| September 2024 | $3.66B | $3B | $4.47B |
| August 2024 | $3.6B | $2.99B | $4.33B |
| July 2024 | $3.3B | $2.29B | $4.74B |
| June 2024 | $3.02B | $2.11B | $4.32B |

## OpenAI valuation

OpenAI's valuation rose from $1B at its Seed in March 2019 to $1.25T at its venture round in November 2026. Specter's live estimate sits between $1.04T and $1.5T.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $1.25T | $1.04T | $1.5T |
| September 2026 | $1.03T | $823B | $1.29T |
| August 2026 | $852B | $709B | $1.02T |
| July 2026 | $852B | $709B | $1.02T |
| June 2026 | $852B | $709B | $1.02T |
| May 2026 | $433B | $360B | $521B |
| April 2026 | $852B | $709B | $1.02T |
| March 2026 | $852B | $709B | $1.02T |
| February 2026 | $852B | $709B | $1.02T |
| January 2026 | $300B | $250B | $361B |
| December 2025 | $300B | $250B | $361B |
| November 2025 | $300B | $250B | $361B |
| October 2025 | $500B | $416B | $601B |
| September 2025 | $500B | $416B | $601B |
| August 2025 | $300B | $250B | $361B |
| July 2025 | $340B | $283B | $409B |
| June 2025 | $300B | $250B | $361B |
| May 2025 | $300B | $250B | $361B |
| April 2025 | $300B | $250B | $361B |
| March 2025 | $300B | $250B | $361B |
| February 2025 | $199B | $165B | $239B |
| January 2025 | $174B | $145B | $209B |
| December 2024 | $157B | $131B | $189B |
| November 2024 | $157B | $130B | $189B |
| October 2024 | $157B | $131B | $189B |
| September 2024 | $150B | $125B | $180B |
| August 2024 | $125B | $100B | $155B |
| July 2024 | $104B | $84.8B | $126B |
| June 2024 | $86B | $71.5B | $103B |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $1.25T | November 2026 | Funding round |
| $852B | October 2026 | [reuters.com](https://reuters.com/legal/transactional/softbank-completes-final-phase-30-billion-investment-openai-2026-10-01/) |
| $852B | August 2026 | [startitup.sk](https://www.startitup.sk/firma-s-hodnotou-965-miliard-vyrastla-v-tieni-chatgpt-jej-produkty-pouzivaju-aj-slovaci/) |
| $852B | July 2026 | [x.com](https://x.com/arnaudmercier/status/2072595529301626910) |
| $852B | June 2026 | [cincodias.elpais.com](https://cincodias.elpais.com/companias/2026-06-03/la-revolucion-tecnologica-de-la-ia-muta-en-la-mayor-disputa-financiera-de-la-historia.html) |
| $433B | May 2026 | [dev.ua](https://dev.ua/news/openai-stvoriuie-spilne-pidpryiemstvo-na-10-miliardiv-1777902393) |
| $852B | April 2026 | [startupnews.fyi](https://startupnews.fyi/2026/04/01/openai-adds-another-12-billion-to-latest-funding-round/) |
| $852B | March 2026 | [finance.yahoo.com](https://finance.yahoo.com/markets/private-companies/recently-funded/) |
| $852B | February 2026 | Funding round |
| $300B | January 2026 | [techround.co.uk](https://techround.co.uk/funding/global-startup-funding-2025/) |
| $300B | December 2025 | [news.crunchbase.com](https://news.crunchbase.com/ai/big-funding-trends-charts-eoy-2025/) |
| $300B | November 2025 | [inc.com](https://www.inc.com/chris-morris/these-5-ai-startups-raised-the-most-money-in-2025/91262446) |
| $500B | October 2025 | Funding round |
| $500B | September 2025 | [frenchweb.fr](https://www.frenchweb.fr/anthropic-signe-une-levee-record-de-121-milliards-deuros-et-se-rapproche-dopenai) |
| $300B | August 2025 | [nyteknik.se](https://www.nyteknik.se/tech/open-ai-varderas-till-300-miljarder-dollar/4380070) |
| $340B | July 2025 | [startupitalia.eu](https://startupitalia.eu/tech/altman-per-chi-vota/) |
| $300B | June 2025 | [gurufocus.com](https://www.gurufocus.com/news/2916535/openai-breaks-10-billion-arr-mark) |
| $300B | May 2025 | [businessinsider.de](https://www.businessinsider.de/wirtschaft/openai-verliert-investoren-wegen-seiner-ungewoehnlichen-struktur/) |
| $300B | April 2025 | [forbes.com.tr](https://www.forbes.com.tr/makale/openai-softbank-liderliginde-40-milyar-dolarlik-rekor-yatirim-aldi) |
| $300B | March 2025 | Funding round |
| $199B | February 2025 | [forbes.com.tr](https://www.forbes.com.tr/icerik/musk-in-97-4-milyar-dolarlik-openai-teklifi-altman-uzerinde-baski-olusturuyor-2025-02-12-12-00-00) |
| $174B | January 2025 | [forbes.com.tr](https://www.forbes.com.tr/icerik/openai-oriental-ofisiyle-asyadaki-varligini-guclendirecek-2025-01-23-12-53-24) |
| $157B | December 2024 | [forbes.com.tr](https://www.forbes.com.tr/makale/openai-sermaye-ihtiyacimiz-bekledigimizden-cok-daha-fazla) |
| $157B | October 2024 | Funding round |
| $150B | September 2024 | [mtsprout.nl](https://mtsprout.nl/nieuws/jumbo-weer-in-de-clinch-met-leveranciers) |
| $86B | June 2024 | [pymnts.com](https://www.pymnts.com/artificial-intelligence-2/2024/report-openai-could-become-a-for-profit-business/) |
| $500B | March 2024 | [forbes.n1info.rs](https://forbes.n1info.rs/inovacije/openai-objavio-gpt-5-evo-sta-je-novo/) |
| $80B | February 2024 | Funding round |
| $340B | October 2023 | [forbes.com.tr](https://www.forbes.com.tr/icerik/openai-340-milyar-dolar-deger-bi-cek-finansman-turu-baslatti) |
| $29B | April 2023 | Funding round |
| $29B | January 2023 | Funding round |
| $20B | January 2021 | Funding round |
| $1B | March 2019 | Funding round |

## OpenAI funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 6 Nov 2026 | Venture round | $11B | $1.25T | T. Rowe Price, MGX, Coatue, SoftBank |
| 22 Apr 2026 | Venture round | $75M | Undisclosed | Robinhood Ventures |
| 27 Feb 2026 | Series G | $122B | $852B | T. Rowe Price, MGX, D. E. Shaw & Co., Amazon, SoftBank, Andreessen Horowitz, NVIDIA, TPG |
| 11 Dec 2025 | Corporate round | $1B | Undisclosed | The Walt Disney Company |
| 2 Oct 2025 | Secondary | $6.6B | $500B | Undisclosed |
| 31 Mar 2025 | Series F | $40B | $300B | SoftBank |
| 3 Oct 2024 | Debt financing | $4B | Undisclosed | Undisclosed |
| 2 Oct 2024 | Venture round | $6.6B | $157B | Thrive Capital |
| 16 Feb 2024 | Secondary | $9.5B | $80B | Thrive Capital |
| 28 Apr 2023 | Secondary | $300M | $29B | Sequoia Capital, Andreessen Horowitz, Thrive Capital, K2 Global |
| 10 Jan 2023 | Corporate round | $10B | $29B | Microsoft |
| 1 Jan 2021 | Secondary | Undisclosed | $20B | Tiger Global Management |
| 22 Jul 2019 | Corporate round | $1B | Undisclosed | Undisclosed |
| 11 Mar 2019 | Seed | $50M | $1B | Reid Hoffman Foundation, Khosla Ventures |
| 22 Aug 2016 | Pre-Seed | $120K | Undisclosed | Y Combinator |

## OpenAI vs competitors

The generative AI market splits between building foundational intelligence and operationalizing specialized agents for business.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| OpenAI | $34.4B–$51.8B | $1.04T–$1.5T |
| Anthropic (anthropic.com) | $38.9B–$56.3B | $1.66T–$2.4T |
| SpaceXAI (x.ai) | $320M–$640M | $191B–$277B |
| Google (google.com) | $392B–$602B | $128B–$834B |
| Microsoft (microsoft.com) | $332B–$481B | $262B–$484B |

## Questions

### What is OpenAI's revenue?

Specter estimates OpenAI's annual revenue at $34.4B to $51.8B as of October 2026. OpenAI last reported $40B revenue in September 2026.

### What is OpenAI's valuation?

OpenAI's latest post-money valuation is $1.25T, from a November 2026 venture round. Specter's live estimate is $1.04T to $1.5T.

### What is OpenAI's revenue multiple?

OpenAI is valued at about 31.3× revenue, based on its $1.25T November 2026 valuation and $40B last reported revenue. That works out to roughly $3.52M of revenue per employee.

### How much funding has OpenAI raised?

$212B across 15 rounds, from a $120K Pre-Seed in August 2016 to an $11B venture round in November 2026.

### Who invested in OpenAI?

114 investors, including Coatue, D. E. Shaw & Co., MGX, Robinhood Ventures, SoftBank and T. Rowe Price.

### Who are OpenAI's competitors?

Anthropic, SpaceXAI, Google and Microsoft. Specter ranks 30 competitors for OpenAI.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "OpenAI revenue and valuation." tryspecter.com/revenue-valuation/openai. Updated November 2026.