Amidst a tumultuous week that saw significant departures from its executive ranks, OpenAI CFO Sarah Friar met with investors Friday, aiming to assuage concerns and highlight the company’s robust growth, particularly within its enterprise division. Friar revealed that enterprise revenue has now surpassed that generated by its consumer-facing ChatGPT business, a significant pivot from earlier projections.
“We entered the year with a 60-40 split, but enterprise has accelerated far beyond our expectations, and those lines have now crossed,” stated Friar, as recounted by an attendee who requested anonymity due to confidentiality agreements. “The majority of our revenue is now enterprise.”
This development positions OpenAI favorably against its previously stated targets. Friar had informed CNBC earlier this year that the company anticipated parity between consumer and enterprise revenue streams by the close of 2026. OpenAI’s annualized revenue run rate has now reached an impressive $40 billion, a figure confirmed by CNBC, following an initial report by Bloomberg.
Further substantiating this upward trajectory, OpenAI’s revenue run rate experienced a 20% month-over-month increase in July. Notably, the growth in business customers was even more pronounced, surging by 32%, according to internal slides reviewed by CNBC.
The investor meeting, though scheduled prior to the recent high-profile executive exits, provided a platform for the company to address its current standing. The meeting took place just a day after the departure of Chief Revenue Officer Denise Dresser, who had been in the role for only eight months. Dresser, a veteran of over a decade at Salesforce and most recently the CEO of Slack, cited the pursuit of new opportunities in a social media post. This follows the announcement two days earlier that long-standing executive Brad Lightcap was leaving after an eight-year tenure at the AI powerhouse to embark on new ventures.
Greg Brockman, OpenAI’s President and a co-founder, also participated in Friday’s discussions. Sources indicate Brockman acknowledged Dresser’s contributions to building the company’s enterprise foundation and expressed enthusiasm for her successor, Dali Rajic. Rajic previously served as Chief Operating Officer at the cybersecurity firm Wiz. The recruitment of Rajic was reportedly facilitated by Thrive founder Josh Kushner.
During the Q&A session, executives fielded questions regarding the competitive landscape, specifically addressing the rise of open-source models originating from China. Brockman reportedly downplayed these concerns, suggesting a misunderstanding around the cost-effectiveness of open-source solutions. Discussions also touched upon the company’s initial public offering (IPO) timeline. However, executives were unable to provide specifics, citing the confidentiality of their SEC filings.
Friar’s emphasis on revenue growth was underscored by her observations on evolving customer behavior. The era of unchecked “tokenmaxxing,” where employees could incur substantial AI expenses without demonstrating commensurate output, is now seemingly over.
“Enterprise customers have shifted from tokenmaxxing to focusing on cost per unit of intelligence,” Friar elaborated, according to the meeting attendee. She highlighted the latest model’s 54% greater efficiency in agentic coding tasks and recent price reductions across the company’s model suite as key indicators of this strategic adjustment.
Furthermore, Friar indicated significant advancements in OpenAI’s advertising endeavors, suggesting the division is approaching a $1 billion run rate. The company commenced testing advertisements within ChatGPT in February. This strategic push into advertising represents a new frontier for OpenAI as it seeks to diversify its revenue streams and capitalize on its expansive user base. The increasing sophistication of AI models and their integration into everyday business processes are fundamentally reshaping how value is derived and measured, pushing companies like OpenAI to optimize both performance and cost-efficiency for their enterprise clients.
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