OpenAI’s revenue is reportedly $20 billion less than previously projected — SkimNews
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- OpenAI told investors its annualized revenue is "approaching $50 billion," per the Financial Times — roughly $20 billion less than the previously reported $70 billion figure.
- The $70 billion figure was devised by OpenAI's own investors in an attempt to produce a direct comparison with Anthropic's annualised revenues, per the FT.
- OpenAI and Anthropic calculate annualized revenue differently — Anthropic counts sales by its cloud partners, while OpenAI does not.
- OpenAI raised $122 billion in a March funding round alone; the FT notes the company is struggling to justify "gargantuan investments" being made on its behalf.
- Leaked 2025 financials showed OpenAI made about $13 billion but spent significantly more.
- OpenAI's IPO, previously rumored for this year, has been pushed to early 2027.
Why it matters: The $20 billion gap between OpenAI's ~$50B real run rate and the $70B investor-projected figure now sits against $122B raised in March and leaked 2025 financials showing roughly $13B in revenue against far higher spending, putting OpenAI in the position of having to defend its investment thesis to the backers who funded that round.
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