00:00It's Benzinga, bringing Wall Street to Main Street.
00:02OpenAI told employees its business remains strong as it faces growing competition from
00:06anthropic and lower-cost open-source AI models, according to CNBC. Finance chief Sarah Fryer
00:12said the company's annualized recurring revenue in July exceeded its entire second quarter total.
00:17Fryer and board chair Brett Taylor said growth has been driven by the GPT 5.6 model series,
00:23the chat GPT work enterprise agent, and adoption of the Codex coding tool.
00:28OpenAI faces pressure to justify its $852 billion valuation as competition grows from
00:34anthropic, Google, and lower-cost Chinese open-weight models. The company is pursuing
00:39more enterprise customers and developers to generate revenue for its infrastructure spending plans.
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