OpenAI CFO Sarah Friar tells employees that annualized revenue in July topped all of Q2

OpenAI's finance chief announced that the company's annualized recurring revenue in July exceeded all of Q2 revenue, driven by releases like GPT-5.6 models, ChatGPT Work (an enterprise agent, or business-focused AI assistant), and adoption of Codex (an AI coding tool). The company faces growing competition from rivals like Anthropic and cheaper open-source alternatives from China, while needing to justify its $852 billion valuation ahead of a potential IPO (initial public offering, where a private company becomes publicly traded).