FT: OpenAI annualized revenue nearer $50 billion, not $70 billion as earlier reported
The Financial Times reported that OpenAI told investors its annualized revenue was approaching $50 billion at the end of September, about $20 billion below a figure reported late last month. The gap is attributed to differing ways OpenAI and Anthropic calculate the metric.
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The story, neutrally told
Centre · 1The Financial Times reported on Thursday 8 October that OpenAI's annualized revenue is about $20 billion lower than previously signaled, citing financial documents shared with investors. CNAN “OpenAI's annualized revenue is about $20 billion less than has been previously signaled, the Financial Times reported on Thursday” Read at CNA ↗ Centre · 2According to the report, the company recently told investors its revenue was approaching $50 billion on an annualized basis at the end of September. CNAN “The company has recently told investors its revenue was approaching $50 billion on an annualized basis at the end of September” Read at CNA ↗ TechCrunchN “The Financial Times reports that the company has told investors that its annualized revenue is “approaching $50 billion.”” Read at TechCrunch ↗ Centre · 2That is well short of the roughly $70 billion reported by media outlets, including Reuters, late last month, a figure that would have made OpenAI competitive with Anthropic's reported run rate. CNAN “far short of the $70 billion reported by media outlets, including Reuters, late last month” Read at CNA ↗ TechCrunchN “a figure that would have made it competitive with Anthropic’s reported run rate” Read at TechCrunch ↗
Centre · 1The FT said the discrepancy arose from attempts by OpenAI's own investors to produce a direct comparison with Anthropic's annualized revenue, citing a person with knowledge of the matter. CNAN “The discrepancy arose from attempts by OpenAI's own investors to produce a direct comparison with Anthropic's annualized revenue” Read at CNA ↗ Centre · 2The two companies calculate the figure differently: Anthropic includes revenue from sales via cloud partners such as AWS and Google Cloud, while OpenAI does not. CNAN “with Anthropic including the revenue from sales via cloud partners such as AWS and Google Cloud, while OpenAI does not” Read at CNA ↗ TechCrunchN “with Anthropic counting sales made by its cloud partners. OpenAI doesn’t do this.” Read at TechCrunch ↗ Centre · 2OpenAI had not responded to requests for comment from Reuters or TechCrunch, and Reuters said it could not independently verify the report. CNAN “OpenAI did not immediately respond to a Reuters request for comment. Reuters could not independently verify the report.” Read at CNA ↗ TechCrunchN “TechCrunch reached out to OpenAI for comment.” Read at TechCrunch ↗
Centre · 1TechCrunch places this in a wider context of scrutiny over OpenAI's finances: it raised $122 billion in a March funding round, leaked 2025 financials showed about $13 billion in revenue but far greater spending, and its IPO, once rumored for this year, has been pushed to early 2027. TechCrunchN “the AI giant raised $122 billion during a March funding round alone”“OpenAI’s IPO, which was previously rumored to be materializing this year, has been pushed off until early 2027.” Read at TechCrunch ↗ Centre · 1The Reuters-written copy carried by CNA adds that annualized run rate, often calculated by multiplying one month's revenue by 12, can be a misleading sales metric, and that both OpenAI and Anthropic are potentially preparing to go public. CNAN “which often involves multiplying one month's revenue by 12”“OpenAI and its rival Anthropic are potentially preparing to go public” Read at CNA ↗
Every sentence links to the reporting it rests on. The pill in front of each says where its sources sit: Left, Centre or Right when one side supplies at least half of them, Mixed when they are evenly split. The number is how many outlets it cites.
Left0 outlets
No left outlet in our sources has covered this story yet.
Centre2 outlets
- Framing
- Both outlets relay the FT report as a correction to the earlier $70 billion figure, explaining it through different accounting methods between OpenAI and Anthropic. TechCrunch adds financial-pressure context; CNA's Reuters copy adds a note on the run-rate metric and IPO prospects.
- Emphasis
- The $20 billion gap, the Anthropic comparison and the differing calculation methods.
- Leaves out or plays down
- Neither has OpenAI's response; both rely on the FT without independent verification.
- Charged language
- “gargantuan investments”
- For example
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“It’s worth pointing out that OpenAI and Anthropic calculate their annualized revenue differently” — TechCrunch
“Annualized revenue run rate is sometimes misleading sales metric” — CNA
Right1 outlet
No right outlet in our sources has covered this story yet.
What every side reports
- The FT reported OpenAI's annualized revenue is approaching $50 billion, about $20 billion below the earlier $70 billion figure.
- The earlier figure came from investors' attempts to compare OpenAI with Anthropic.
- Anthropic counts cloud-partner sales in its figure; OpenAI does not.
- OpenAI had not commented at time of publication.
OpenAI organisation
OpenAI is reported to have told investors its annualized revenue is approaching $50 billion; it had not commented publicly on the report when the articles were published.
“OpenAI did not immediately respond to a Reuters request for comment.” — CNA
“the AI lab is said to have told investors that the real revenue is some $20 billion lower than that” — TechCrunch
North America2 outlets
TechCrunch ties the revenue gap to OpenAI's funding, losses and delayed IPO.
“The issue of OpenAI’s revenue has troubled the company” — TechCrunch
IJR, TechCrunch
East and Southeast Asia1 outlet
CNA runs Reuters' summary, focused on the calculation methods and the run-rate metric.
“The pair calculate the figure in different ways” — CNA
CNA
Left0 articles
No coverage yet.
Centre2 articles
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OpenAI’s revenue is reportedly $20 billion less than previously projected
Mixed Presents the figure as a reversal of the earlier $70 billion report and links it to concerns over OpenAI's heavy spending.
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CNAN ·
OpenAI's annualized revenue $20 billion less than previously signaled, FT reports
Neutral Reuters-style bullet summary of the FT report, stressing unverified status and the metric's limitations.
Right1 article
- 8 Oct 18:13 First IJRRC OpenAI revenue run rate nears $50 billion, below prior estimates
- 8 Oct 19:19 +1h 7m TechCrunchN OpenAI’s revenue is reportedly $20 billion less than previously projected
- 8 Oct 22:12 +3h 59m CNAN OpenAI's annualized revenue $20 billion less than previously signaled, FT reports
Times are when each article was published, or when we first saw it if the outlet gave no time.