OpenAI Annualized Revenue Short by $20 Billion from Estimates

OpenAI’s annualized revenue reached $50 billion in September, approximately $20 billion lower than previous industry estimates due to accounting discrepancies. Financial documentation reviewed by investors positioned its annual revenue at $50 billion rather than the widely reported $70 billion figure.

The shortfall was attributed to attempts by an OpenAI investor to provide a direct comparison to the annualized revenue run rate of competitor Anthropic. Anthropic’s annualized run rate reached $65 billion by late July 2026. While the $20 billion discrepancy appears significant, OpenAI clarified to investors that its direct revenue grew by over 70% in the third quarter of 2026 alone.

Media outlets had reported that OpenAI was approaching $70 billion in late September, based on a more than twofold increase in enterprise sales since July. The two AI developers utilize different revenue calculation methods, as Anthropic includes sales from cloud partners such as Amazon Web Services and Google, while OpenAI does not. Anthropic is reportedly planning an IPO in November following the U.S. midterm elections, whereas OpenAI is targeting a public listing next year.