The company told investors its annualized revenue was approaching $50 billion at the end of September, the Financial Times reported. Earlier media reports put the figure about $20 billion higher.
The FT report is based on financial documents shared with investors. The earlier $70 billion figure was derived from information OpenAI had previously provided to investors, but was calculated in an effort to compare the company directly with Anthropic. Axios reported on Sept. 29 that OpenAI’s annualized revenue run rate was nearing $70 billion.
The comparison is complicated by different accounting approaches. Anthropic counts sales made by its cloud partners, while OpenAI does not, TechCrunch reported. TechCrunch said it had asked OpenAI for comment.
The revenue estimates come as OpenAI faces scrutiny over the scale of its spending. The company raised $122 billion in a single funding round in March. Leaked 2025 financial figures published earlier this year showed revenue of about $13 billion, with spending significantly higher.
OpenAI’s initial public offering, previously rumored for 2026, has reportedly been pushed back to early 2027, TechCrunch said.