OpenAI Reportedly Tells Investors Revenue Is $20 Billion Below Earlier Projections

OpenAI's Revenue Falls Short of Earlier Reports

OpenAI has told investors that its annualized revenue is "approaching $50 billion," according to the Financial Times. The figure is roughly $20 billion lower than the number reported by news outlets just over a week earlier, when the AI lab's annualized revenue was said to be approaching $70 billion. That earlier figure would have made OpenAI competitive with Anthropic's reported run rate.

How the $70 Billion Figure Emerged

The $70 billion figure was based on information that had been shared with OpenAI investors. According to the Financial Times, it was devised through attempts by OpenAI's own investors to produce a direct comparison with Anthropic's annualised revenues. The two companies calculate their annualized revenue differently: Anthropic counts sales made by its cloud partners, while OpenAI does not.

Funding and IPO Context

The issue of OpenAI's revenue has troubled the company as it attempts to justify the gargantuan investments being made on its behalf. The AI giant raised $122 billion during a March funding round alone. Leaked 2025 financials earlier this year showed the company had made about $13 billion but spent significantly more. OpenAI's IPO, which was previously rumored to materialize this year, has been pushed off until early 2027. TechCrunch reached out to OpenAI for comment.

Sources: Techcrunch