OpenAI’s revenue is reportedly $20 billion less than previously projected
Quick Answer
OpenAI's annualized revenue is now reported at approximately $50 billion, $20 billion less than earlier projections of $70 billion.
Quick Take
The discrepancy arises from differing revenue calculation methods between OpenAI and competitors like Anthropic, which includes cloud partner sales. This revenue adjustment raises concerns as OpenAI seeks to justify its substantial investments amid a delayed IPO.
Key Points
- OpenAI's revenue is now estimated at $50 billion, down from $70 billion.
- The revenue calculation methods differ between OpenAI and Anthropic.
- OpenAI raised $122 billion in a funding round earlier this year.
- Leaked financials showed OpenAI made $13 billion but spent significantly more.
- The company's IPO has been postponed to early 2027.
DeepSignal Analysis
What happened
OpenAI's annualized revenue is now estimated at approximately $50 billion, which is $20 billion less than earlier projections of $70 billion. This adjustment is attributed to differences in revenue calculation methods compared to competitors like Anthropic, which includes cloud partner sales in its figures.
Key evidence
- OpenAI reportedly informed investors that its annualized revenue is approaching $50 billion, down from previous estimates of $70 billion.
- The Financial Times noted that the earlier $70 billion figure was based on attempts by OpenAI's investors to compare with Anthropic's revenues.
- Anthropic includes sales from its cloud partners in its revenue calculations, while OpenAI does not, leading to discrepancies in reported figures.
Why it matters
This revenue adjustment raises significant concerns for OpenAI as it seeks to justify its substantial investments, which included $122 billion raised in a funding round earlier this year. The company has also faced challenges with its financials, having reported a $13 billion revenue but significantly higher expenditures. Additionally, the delay of its IPO until early 2027 adds pressure to demonstrate financial viability.
📖 Reader Mode
~2 min readIn Brief
Posted:
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.
The Financial Times reports that the company has told investors that its annualized revenue is “approaching $50 billion.” The publication also notes that the previous figure of $70 billion was based on information that had previously been shared with investors by OpenAI. That figure was devised via “attempts by OpenAI’s own investors to produce a direct comparison with Anthropic’s annualised revenues,” per the FT.
It’s worth pointing out that OpenAI and Anthropic calculate their annualized revenue differently — with Anthropic counting sales made by its cloud partners. OpenAI doesn’t do this.
TechCrunch reached out to OpenAI for comment.
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. The company’s leaked 2025 financials earlier this year showed it had made about $13 billion but spent significantly more. OpenAI’s IPO, which was previously rumored to be materializing this year, has been pushed off until early 2027.
Topics
Subscribe for the industry’s biggest tech news
Latest in AI
— Originally published at techcrunch.com
Want this in your inbox every morning?
Daily brief at your local 8am — bilingual EN/中文, free.
More from TechCrunch
See more →
AI chip startup Etched defies skeptics, hits $10.3B valuation from big-name investors
AI chip startup Etched has achieved a $10.3 billion valuation after a $300 million Series C funding round, led by Sequoia and supported by notable investors like Andreessen Horowitz. The company claims to have developed innovative low-voltage chips for AI inference, significantly enhancing performance and reducing costs, with $1 billion in orders already booked.
