According to the Financial Times, OpenAI has told investors that its annualized revenue is “approaching $50 billion.” That statement reduces earlier reported figures that placed the company’s annualized revenue at roughly $70 billion — a difference of about $20 billion.
Background on the differing numbers
The previously reported $70 billion figure was based on information shared with investors and on attempts by some investors to construct a direct comparison with Anthropic’s reported run rate. The Financial Times notes an important methodological difference: Anthropic counts sales booked by its cloud partners when calculating annualized revenue, whereas OpenAI does not include those partner-booked sales.
TechCrunch contacted OpenAI for comment.
Why the correction matters
Revenue figures are particularly consequential for OpenAI given the size of the capital flowing through the company. In a March funding round, the company raised $122 billion, and leaked 2025 financials released earlier this year showed about $13 billion in revenue for that year while expenditures were significantly higher.
Accurate revenue reporting matters to investors assessing the company’s financial position and justifying large investments, and it also feeds into timing and expectations around public market activity. OpenAI’s IPO, which had been rumored to be possible this year, has been pushed back and is now expected in early 2027.
Summary
The Financial Times report indicates OpenAI clarified to investors that its annualized revenue is nearer $50 billion rather than the previously circulated $70 billion figure. The revision underscores differences in accounting approaches across AI companies and comes as OpenAI navigates heavy spending, large fundraising rounds, leaked 2025 results, and a delayed IPO.
