OpenAI Revenue Run Rate Nears $50 Billion, Below Earlier $70 Billion Reports

OpenAI’s annualised revenue is reportedly approaching $50 billion, roughly $20 billion below estimates published just over a week ago. The Financial Times says the lower figure comes from information OpenAI shared with investors, while the earlier estimate reflected differences in how it compared its revenue with Anthropic’s.

On September 29, Axios reported that OpenAI’s annual recurring revenue was nearing $70 billion. That would have put it close to Anthropic, which reported a $65 billion annualised revenue run rate in July.

The discrepancy reflects different revenue-counting approaches. Anthropic includes sales generated through cloud partners, while OpenAI excludes them, making direct comparisons less straightforward. The $20 billion difference therefore does not necessarily indicate a decline in OpenAI’s actual sales.

The revised figure comes as OpenAI faces scrutiny over the enormous investments required to develop and operate advanced AI systems. The company raised $122 billion in a March 2026 funding round, while previously leaked financial figures indicated approximately $13 billion in revenue against substantially higher spending during 2025.

OpenAI’s potential initial public offering has also attracted attention. Although earlier expectations pointed to a 2026 listing, later reports suggested early 2027 instead. The revenue discrepancy adds another factor investors consider when assessing the company’s financial position ahead of any public offering.