Just over a week ago, word spread that OpenAI's annualized revenue had climbed to nearly $70 billion—a number that would have put it on par with Anthropic's reported run rate. That picture has now shifted. The AI lab has reportedly informed investors that the true figure is roughly $20 billion less than that earlier estimate.

According to the Financial Times, OpenAI has told investors its annualized revenue is "approaching $50 billion." The publication further notes that the $70 billion number stemmed from information OpenAI had previously shared with investors—a figure that came about through "attempts by OpenAI's own investors to produce a direct comparison with Anthropic's annualised revenues."

It's important to note that OpenAI and Anthropic don't calculate annualized revenue the same way. Anthropic includes sales made through its cloud partners, while OpenAI does not.

Revenue has been a sore subject for OpenAI as it works to justify the enormous sums being invested on its behalf; the AI giant pulled in $122 billion during a single funding round in March. Financials leaked earlier this year covering 2025 showed the company had brought in about $13 billion while spending considerably more.

As for OpenAI's IPO—previously rumored to be happening this year—it has now been delayed until early 2027.