OpenAI says enterprises now supply most of its revenue as it targets 2027 listing

OpenAI now draws the majority of its revenue from enterprise sales, its co-founder and president Greg Brockman said, a shift that moves the company's commercial centre of gravity from consumer subscriptions to corporate procurement of artificial-intelligence models and tools. Speaking at the Wall Street Journal's tech conference in Napa, California, Brockman said business sales had overtaken the consumer side as the company's largest revenue source. The change matters within the AI industry because it places the contest with Anthropic on contracts, coding agents and security products bought by large employers, rather than on public-facing chatbots.

The turn followed a difficult first half. "The first quarter was quite hard, and so was the second," Brockman said, according to AI Times' Korean-language report, adding that in coding "we were not even part of the discussion. We had Codex, but nobody talked about it." He said the third quarter was "completely different", crediting the launch of the GPT-5.6 Sol model and the ChatGPT Work product for business use, together with agentic coding tools that began attracting enterprise attention. "There was a lot of painful behind-the-scenes work, but the result was an amazing revenue inflection point," he said. External figures point the same way: a September analysis by OpenRouter of spending by roughly 120,000 businesses using Anthropic and OpenAI tools found the two companies' shares nearly equal, against Anthropic's roughly 75% at the start of the year.

Among the customers cited was JPMorgan Chase, which recently signed a strategic partnership with OpenAI including access to cyber security models through the "Daybreak" programme; the bank also takes part in Anthropic's "Glasswing" security project. Enterprise growth has not been matched in fundraising. OpenAI raised less than half of the $30bn it had targeted in a recent round and was valued at $1.25tn against a $1.4tn goal, with unease about the AI industry weighing on investor sentiment, AI Times reported.

OpenAI filed IPO paperwork in June but has pushed the listing back to next year. Asked whether it would be ready to go public next year, Brockman said "I think so", adding that the company would list "when the right time comes" and that "we have made a lot of progress this year, and there has never been a moment when we were as confident in what we do as now." The Hindu reports that Anthropic is likely to list before the end of this year. The next markers to watch are the timing of Anthropic's listing and any formal step by OpenAI towards a 2027 debut.