OpenAI Annualized Revenue Hits $50 Billion, Below Earlier Estimates

OpenAI's annualized revenue reached approximately $50 billion by the end of September 2026, significantly below the $70 billion previously reported to investors, according to financial documents reviewed by the Financial Times.

The updated revenue figure highlights a $20 billion gap between the artificial intelligence company's latest financial disclosures and earlier estimates circulated in the market. The difference has raised questions about how leading AI companies measure and report revenue as competition intensifies across the industry.

According to the report, OpenAI recently informed investors that its annualized revenue was approaching $50 billion in September. However, several media outlets reported late last month that the ChatGPT developer had achieved an annualized revenue run rate of approximately $70 billion, based on investor information.

The discrepancy largely reflects differences in revenue reporting methods between OpenAI and its major competitor, Anthropic.

Anthropic includes revenue generated through cloud distribution partners, including Amazon Web Services (AWS) and Google Cloud, when calculating its annualized revenue. OpenAI, meanwhile, excludes comparable partner-generated revenue from its reported figures.

These contrasting accounting approaches have complicated efforts by investors and analysts to compare the financial performance of the two AI companies directly.

Attempts to standardize revenue calculations contributed to the higher OpenAI estimates. Similar adjustments previously resulted in reports suggesting that the company had reached $40 billion in annualized revenue in August.

Despite the lower September figure, OpenAI has told investors that its revenue increased by more than 70% during the period, underscoring continued demand for generative AI products and enterprise services.

Annualized revenue, which estimates yearly sales based on a company's current revenue pace, has become an important benchmark for evaluating growth in the rapidly expanding artificial intelligence industry.

Investors closely monitor this metric to assess AI adoption, business performance, and the financial sustainability of major technology companies.

The figures also influence decisions involving AI infrastructure investments, including data centers, advanced semiconductors, and cloud computing capacity.

As OpenAI and Anthropic compete for enterprise customers and investor funding, differences in revenue reporting could become increasingly important in determining how the market evaluates their growth and long-term financial prospects.