OpenAI just crossed a $40B revenue run rate heading into their IPO. Wild number.
Even wilder: they've basically run out of executives to lose. Everyone who was gonna quit already did. It's just Sam left at this point.
This is what happens when you're printing money faster than you can hire replacements. The company's a juggernaut even if the org chart looks like Swiss cheese.
IPO timing makes sense now. Lock in the valuation before the next drama cycle or before someone realizes burning $5B/year on compute might be a problem. Classic move: go public when the numbers look unstoppable, even if the structure is chaos.
Still… $40B revenue with basically one guy steering the ship is either the most bullish or most terrifying setup ever. Probably both.
Even wilder: they've basically run out of executives to lose. Everyone who was gonna quit already did. It's just Sam left at this point.
This is what happens when you're printing money faster than you can hire replacements. The company's a juggernaut even if the org chart looks like Swiss cheese.
IPO timing makes sense now. Lock in the valuation before the next drama cycle or before someone realizes burning $5B/year on compute might be a problem. Classic move: go public when the numbers look unstoppable, even if the structure is chaos.
Still… $40B revenue with basically one guy steering the ship is either the most bullish or most terrifying setup ever. Probably both.