What happened
According to a Bloomberg report on Friday, OpenAI expects its annualised revenue to reach or exceed $70bn by the end of the year. The company shared this forecast with investors during ongoing talks over its latest funding round.
Where the growth comes from
The report says most of the increase is being driven by growth in OpenAI's enterprise business. In other words, the company is scaling its revenue mainly through solutions sold to businesses rather than individual users.
Why it matters
Annualised revenue is a metric that takes the current sales pace and projects it across a full year. A $70bn run rate would place OpenAI in the same league as the world's largest technology companies. It is also a signal of investor appetite across the AI market.
