TLDR
- OpenAI expects annualized revenue of $70 billion by the end of 2026, driven by enterprise growth.
- The company’s September annualized revenue was close to $50 billion, lower than earlier estimates near $70 billion.
- The gap came from investors trying to compare OpenAI’s numbers using Anthropic’s accounting method.
- Anthropic’s annualized revenue hit $65 billion in July and is expected to reach $100 billion by year end.
- Tech stocks fell after the revenue reports, with the Nasdaq 100 down 1.4% and chip stocks down 3.4%.
OpenAI told investors it expects annualized revenue to reach or pass $70 billion by the end of 2026. The growth is expected to come mostly from its enterprise business.
OPENAI'S ANNUALIZED REVENUE NEARS $50B, BELOW EARLIER $70B REPORTS: FT
OpenAI recently told investors its annualized revenue was approaching $50B at the end of September, roughly $20B below the figure widely reported last month.
The discrepancy reportedly stems from differences… https://t.co/jDH3owKj6u pic.twitter.com/Ot58ardKw4
— Wall St Engine (@wallstengine) October 8, 2026
The company’s annualized revenue for September was close to $50 billion. This number is lower than earlier figures that some reports had placed near $70 billion.
OpenAI shared these numbers with investors as part of talks for a new funding round. People familiar with the matter spoke to Bloomberg on condition of anonymity.
Where the Revenue Gap Came From
The difference between the two figures came from how the numbers were calculated. Investors had tried to match OpenAI’s revenue to the same method used by rival Anthropic.
Anthropic counts revenue differently than OpenAI. It includes sales made through cloud partners such as Amazon Web Services and Google Cloud.
OpenAI does not include this type of revenue in its reporting. Anthropic pays cloud partners around 16% of every dollar earned through them. That arrangement made up about half of Anthropic’s revenue last year.
OpenAI declined to comment on the figures. Anthropic has not issued a public statement on the comparison either.
Market Reaction and Industry Numbers
Tech stocks dropped after reports surfaced that OpenAI’s revenue growth may be slower than some had expected. The Nasdaq 100 fell 1.4% on the news.
A group of chip company stocks fell harder, dropping 3.4%. The S&P 500 also lost ground as traders reacted to the reports.
OpenAI began this year with $20 billion in annualized revenue. That figure was just $6 billion in 2024, showing fast growth over two years.
Anthropic has grown quickly as well. Its annualized revenue passed $65 billion in July and is expected to hit $100 billion by the end of the year, according to sources.
In the second quarter, Anthropic’s quarterly revenue passed OpenAI’s for the first time. Anthropic reported $11.5 billion compared to OpenAI’s $6.7 billion for the same period.
Both companies are preparing to go public. This process is expected to give investors a clearer look at their finances.
OpenAI has delayed its plans for a public listing until at least next year. The company says this is due to its focus on AI safety work.
Anthropic, on the other hand, may sell shares in a public listing as soon as November. This would make it the first of the two companies to go public.
OpenAI is currently in talks with several investment funds from the United Arab Emirates. These include MGX, a fund based in Abu Dhabi, to help support its new funding round.
The company’s most recent funding round was in March. It raised $122 billion at a valuation of $852 billion.
OpenAI is now in talks to raise $30 billion or more. This new round would value the company at $1.4 trillion before the new funds are added.
Annualized revenue is a metric used often by fast growing technology companies. It is calculated by taking revenue from a shorter time period and multiplying it to estimate a full year.
Analysts say this method can sometimes be misleading. It does not always reflect steady, long term earnings.
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