Morning Edition · Fri 9 Oct 2026
OpenAI Tells Investors Annualized Revenue Is Near $50 Billion, Not $70 Billion
OpenAI has told investors its annualized revenue is nearing $50 billion, about $20 billion below earlier reports, according to the Financial Times as cited by TechCrunch.
Chanan Zevin - Chief Editor and Head of Desks
Published
OpenAI Lowers Revenue Estimate to $50 Billion
OpenAI has informed investors that its annualized revenue is approaching $50 billion, according to the Financial Times as reported by TechCrunch. This figure is about $20 billion lower than the previously circulated estimate of $70 billion, which had been based on information shared with OpenAI investors and widely reported by news outlets.
The earlier $70 billion estimate was not an official company figure but rather a calculation devised by OpenAI’s own investors in an attempt to create a direct comparison with Anthropic’s reported run rate, the Financial Times reported as cited by TechCrunch. The revision clarifies OpenAI’s current financial position at a time when the company remains at the center of significant investor interest in artificial intelligence.
Revenue Accounting Methods Create Discrepancy
A key reason for the difference between the $70 billion and $50 billion figures lies in how OpenAI and Anthropic account for revenue. According to TechCrunch, Anthropic includes sales made by its cloud partners in its annualized revenue calculation, while OpenAI does not. This methodological difference has contributed to confusion among investors and industry observers attempting to benchmark the two companies’ financial performance.
The Financial Times, as cited by TechCrunch, noted that the higher $70 billion estimate was an attempt to align OpenAI’s reported revenue with Anthropic’s approach. However, OpenAI’s own accounting yields the lower, more conservative $50 billion figure. This clarification is important for accurately assessing the company’s financial health and for making meaningful comparisons within the AI sector.
Why the Revenue Revision Matters
The clarification of OpenAI’s revenue figures is significant for investors and the broader technology sector because it directly affects perceptions of the company’s scale and growth trajectory. As OpenAI seeks to justify large-scale investments—TechCrunch reported that the company raised $122 billion during a March funding round alone—accurate revenue disclosures are critical for market confidence and future fundraising.
For investors, the distinction between gross and net revenue reporting can significantly influence valuation models and expectations for future returns. The revised figure may prompt a reassessment of OpenAI’s market position relative to competitors and could influence decision-making around future capital allocation.
Recent Financial Performance and Delayed IPO
OpenAI’s leaked 2025 financials earlier this year showed it had made about $13 billion but spent significantly more, according to TechCrunch. This underscores the company’s ongoing challenge to balance rapid growth and innovation with sustainable financial management.
OpenAI’s plans for an initial public offering have been delayed until early 2027, TechCrunch reported. This postponement highlights the importance of transparent financial reporting as the company navigates a competitive and rapidly evolving industry landscape. As the artificial intelligence market continues to expand, clear and consistent revenue reporting will remain a focal point for investors and analysts monitoring the sector’s leading firms.
Investor Sentiment and Industry Implications
The adjustment in OpenAI’s revenue guidance may influence investor sentiment as the company continues to attract significant capital and attention. The Financial Times, as cited by TechCrunch, emphasized that the $70 billion figure was constructed to facilitate direct comparisons with Anthropic, but OpenAI’s actual revenue accounting provides a more conservative and arguably more accurate view of its financial standing.
As artificial intelligence companies compete for market leadership, the methods used to calculate and report revenue have become increasingly important. Investors and analysts will likely scrutinize these figures closely as they assess the long-term prospects of OpenAI and its peers in the evolving AI landscape.