OpenAI projects $70B revenue by 2026, seeks over $30B funding
OpenAI, the team behind ChatGPT, now expects to pull in $70 billion a year by 2026, a big leap from its earlier $50 billion estimate. Most of this growth is set to come from its business-focused products.
The updated numbers were shared with investors as OpenAI looks to raise over $30 billion and hit a massive $1.4 trillion valuation.
OpenAI forecast exceeds Anthropic's $65B
OpenAI's new forecast puts it ahead of rival Anthropic, whose annualized revenue hit $65 billion, though both companies use different ways to calculate.
To fund its plans, OpenAI is talking with United Arab Emirates investment groups like Abu Dhabi's MGX. The company had already raised $122 billion at an $852 billion valuation earlier this year.
Notably, after the new projections came out, tech stocks, including the Nasdaq-100 and chip makers, took a noticeable dip, showing just how much influence OpenAI now has on the market.