OpenAI’s revenue is reportedly $20 billion less than previously projected

OpenAI has reportedly told investors that its annualized revenue is approaching $50 billion, according to the Financial Times. That is about $20 billion lower than a figure of roughly $70 billion that had been reported a little over a week earlier.

The earlier $70 billion number was based on information OpenAI had previously shared with investors, the FT reported. It was devised through attempts by OpenAI's own investors to produce a direct comparison with Anthropic's annualized revenues.

The two companies calculate annualized revenue differently. Anthropic counts sales made by its cloud partners, while OpenAI does not. TechCrunch reached out to OpenAI for comment.

Revenue questions have shadowed OpenAI as it works to justify the large investments being made on its behalf. The company raised $122 billion during a March funding round alone, and leaked 2025 financials earlier this year showed it had made about $13 billion while spending significantly more. Its IPO, previously rumored to be materializing this year, has been pushed off until early 2027.

Why it matters: The reported gap between the two revenue figures affects how investors and partners compare OpenAI with Anthropic, since each company counts annualized revenue under different rules. OpenAI's IPO timing has also shifted to early 2027.