OpenAI's annualized revenue is reported to be approaching $70 billion, with strong growth in both enterprise and consumer businesses.

Axios reported Tuesday, citing unnamed people familiar with the matter, that based on OpenAI's current performance, the company's annualized revenue is poised to approach $70 billion, driven by strong growth in both its enterprise and consumer businesses. An August report had said the ChatGPT developer's annualized revenue at the time was on track to surpass $40 billion. OpenAI's revenue growth has accelerated in recent months, partly fueled by growth in its AI coding software business. OpenAI is locked in a fierce battle with longtime rival Anthropic PBC for more enterprise customers. Both companies have already confidentially filed for listing, and Anthropic is expected to hold an initial public offering as soon as this fall. OpenAI said that as it focuses on addressing safety concerns raised by the technology, it no longer expects to hold an IPO this year.