OpenAI projected to reach $70 billion in annualized revenue by year-end

Bloomberg says OpenAI is expected to reach a $70 billion annualized revenue rate by the end of the year.

Annualized revenue estimates what a company's income would be over a full year at its current pace.

The figure is a projection, not a report that OpenAI has already earned $70 billion this year.

It gives an indication of the scale of the company's business.