Brockman says OpenAI’s enterprise business doubled as Q3 revenue pace rose 70%

OpenAI’s enterprise business doubled in the third quarter, driving a 70% quarter-over-quarter increase in annualized revenue, president Greg Brockman said. Speaking at a Wall Street Journal tech conference on Wednesday, he described a business increasingly powered by corporate customers after what he called a rough start to 2026.

The financial figures, reported by TechCrunch on November 5, measure growth in annualized revenue—a revenue pace expressed on a yearly basis. The 70% increase is not growth in revenue collected over a completed year.

Enterprise customers now account for the majority of OpenAI’s revenue, compared with about 30% previously, Brockman said. He stressed that the change was not caused by consumer revenue shrinking: that business was growing too. Enterprise sales had simply grown faster, changing which side of the company contributed the larger share.

He described the acceleration as the payoff from investments made before the quarter, rather than something produced solely by activity during those three months.

From a rough start to winning business trust

Brockman called the first and second quarters “pretty rough” for OpenAI’s enterprise trajectory. He also acknowledged that the company had struggled to attract attention in agentic coding—AI tools that carry out coding tasks—despite already having Codex. “We had Codex, but no one was talking about it,” he said.

Anthropic’s Claude Code had gained market share in the same area. Brockman credited OpenAI’s response to continued execution, saying the company “just kept our heads down and executed.”

Selling to businesses also required addressing doubts about OpenAI’s commitment. A year ago, Brockman said, prospective customers largely viewed it as a consumer company and asked whether it was serious about enterprise work. He cited a recent partnership with J.P. Morgan Chase as an example of the clients OpenAI is now winning.

Brockman said the company had learned that its role went beyond supplying AI technology. It needed to help customers identify the most important milestones they could achieve, build trust and show it would remain a reliable partner over time.

IPO readiness, not a listing deadline

Asked whether OpenAI would be IPO-ready in 2027, Brockman answered, “I think so. Yes.” Readiness is not a listing commitment: he said OpenAI wants to pursue an initial public offering when the timing feels right for the company.