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FT: OpenAI annualized revenue ~$50B, $20B less than previously reported
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A new report from the Financial Times indicates that OpenAI's annualized revenue is approximately $50 billion, which is $20 billion less than the previously reported figure of $70 billion. The earlier $70 billion estimate, which was based on information shared with investors by OpenAI, was reportedly devised by OpenAI's own investors to create a direct comparison with Anthropic's annualized revenues. The discrepancy is partly attributed to differing calculation methods; Anthropic includes sales made by its cloud partners, while OpenAI does not. This revenue issue is significant for OpenAI as it seeks to justify the massive investments it has received, including $122 billion raised in a March funding round. Leaked 2025 financials showed the company made about $13 billion but spent significantly more. OpenAI's previously rumored IPO has been postponed until early 2027.
Source report
A little over a week ago, it was reported that OpenAI's annualized revenue was approaching $70 billion — a figure that would have made it competitive with Anthropic's reported run rate. Now, however, the AI lab is said to have told investors that the real revenue is some $20 billion lower than that.
Key Developments
- Revised figure: The Financial Times reports that OpenAI has told investors its annualized revenue is "approaching $50 billion."
- Previous estimate: The earlier $70 billion figure was based on information previously shared with investors by OpenAI.
- Calculation discrepancy: According to the FT, the $70 billion figure was devised through "attempts by OpenAI's own investors to produce a direct comparison with Anthropic's annualised revenues."
Revenue Calculation Differences
It is worth noting that OpenAI and Anthropic calculate their annualized revenue differently. Anthropic counts sales made by its cloud partners, while OpenAI does not.
TechCrunch has reached out to OpenAI for comment.
Broader Financial Context
The issue of OpenAI's revenue has troubled the company as it attempts to justify the gargantuan investments being made on its behalf. The AI giant raised $122 billion during a March funding round alone.
Earlier this year, the company's leaked 2025 financials showed it had made approximately $13 billion but spent significantly more. OpenAI's IPO, previously rumored to be materializing this year, has been pushed off until early 2027.
Source
TechCrunchWestern