OpenAI is approaching an IPO amid record revenue and personnel turbulence.
A key player in the artificial intelligence market continues to demonstrate impressive financial momentum. According to my analysis, OpenAI's revenue growth has reached $40 billion on an annualized basis, doubling the figures from late 2025. This surge comes amid the company's active preparation for an initial public offering.
Such aggressive growth strengthens the company's position ahead of a potential stock market debut. However, alongside these financial successes, we are witnessing a wave of resignations among top management, which adds uncertainty to the IPO process.
What is behind the rapid revenue growth
The analysis shows that three key areas are making the main contribution. First, there is a steady increase in the number of ChatGPT subscribers. Second, sales of tools for developers working with code are growing rapidly. Third, the young advertising business is beginning to generate tangible revenue.
In July, the company's revenue grew by more than 20% compared to June. Notably, that month brought in more money than the entire second quarter. This was partly driven by a new pricing policy: lowering service costs for clients not only failed to lead to a drop in revenue but also attracted new corporate customers.
AI agents provided an additional boost. Codex, aimed at helping programmers, and ChatGPT Work for office teams are encouraging clients to move to more expensive plans. Previously, it was forecast that revenue would exceed $20 billion by the end of 2025, but current growth rates suggest this figure could double.
Personnel changes on the eve of the IPO
In the coming weeks, Chief Revenue Officer Denise Dresser, who has been with OpenAI for about eight months, will leave the company. Global sales will be led by Dali Rajic, who previously served as president at cybersecurity company Wiz. This is not the first loss in leadership: Brad Lightcap and Fidji Simo have already departed.
Over the past few months, the company has also lost its head of ethics, its head of the safety division, and its former chief strategy officer. Greg Brockman has taken on some management functions in an attempt to stabilize the situation.
Preparation for the stock exchange is in full swing: the company has filed for an IPO in confidential mode and bought back $7 billion worth of shares from employees. Meanwhile, competitor Anthropic plans to go public as early as October with a valuation exceeding $2 trillion.
My verdict: OpenAI's revenue growth is impressive, but the personnel shake-up ahead of the IPO is a worrying signal. Investors should closely watch whether the company can maintain its momentum amid management instability. The success of the listing will largely depend on whether financial strength outweighs personnel risks.