📈OpenAI Told Investors Revenue Is Near $50B, Not $70B
TL;DR
OpenAI's annualized revenue is approaching $50B, per the Financial Times, about $20B below the figure Axios reported on September 29. Part of the gap is accounting: Anthropic counts cloud-partner sales in its run rate, OpenAI does not.
OpenAI's annualized revenue is approaching $50B, per the Financial Times, about $20B below the figure Axios reported on September 29. Part of the gap is accounting: Anthropic counts cloud-partner sales in its run rate, OpenAI does not.
Key Points
Axios reported nearly $70B annualized revenue on September 29; FT says investors were told about $50B
Anthropic reported a $65B run rate in July, counting sales through its cloud partners
OpenAI raised $122B in March 2026 and has pushed its IPO to early 2027
Leaked 2025 financials show roughly $13B revenue with spending well above that
Why It Matters
Run-rate numbers across labs are not comparable until you know what each one counts. Before you price an IPO or pick a vendor on revenue momentum, check the definition.
Quick Facts
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