OpenAI's revenue running $20 billion below prior signal, FT reports
The gap surfaces weeks after Nvidia, SoftBank and Broadcom struck financing deals priced on a much higher run-rate.
Published
OpenAI's annualized revenue is running $20 billion below the figure the company had been signalling to investors and partners, the Financial Times reports.
The prior figure lines up with an estimate from Sacra, which put OpenAI's annualized revenue at $70 billion as of September 2026. That number had underpinned a run-rate narrative that fed into talk of a $1.2 trillion valuation for the company.
The shortfall lands weeks after a string of financing deals built on that higher trajectory. Nvidia and SoftBank have completed $10 billion stakes in OpenAI. Broadcom has arranged more than $50 billion in financing for OpenAI's custom AI chip, a facility that follows a similar arrangement Broadcom built for Anthropic's chip orders.
The revenue gap does not match the accelerating-growth picture OpenAI and its backers have presented to consumers and enterprise customers this quarter. It also comes alongside a California subpoena and the resignation of a former OpenAI safety leader, adding a question over the company's credibility to the question already facing the firms financing its infrastructure buildout.