OpenAI (Unlisted:OPAI) is on track to generate annualised revenue of more than $40 billion, according to Bloomberg, citing people familiar with the matter, roughly double its run rate at the end of 2025.
The acceleration strengthens the case for a stock market debut, with the ChatGPT maker having filed confidential paperwork to go public.
Growth has been driven in part by its AI coding software, alongside subscription sales, a young advertising business and a still-expanding consumer arm.
Greg Brockman, co-founder and president, told staff the run rate rose more than 20% month-on-month in July.
Chief financial officer Sarah Friar had previously said the company ended last year above $20 billion.
Rival Anthropic said in May its own run-rate revenue had passed $47 billion, though the two may not calculate the figure the same way.
Anthropic is expected to list as soon as this autumn, ahead of OpenAI.
Demand has picked up sharply for OpenAI's agents, including Codex and ChatGPT Work.
The company has cut prices on some models to compete with Anthropic and Chinese rivals.
On Thursday, it appointed a cybersecurity executive as chief revenue officer, its second in under a year.
