A little over a week ago, it was reported that OpenAI’s annualized revenue was approaching $70 billion, a figure that would have made it competitive with Anthropic’s reported run rate. Now, however, the AI lab is said to have told investors that the real revenue is some $20 billion lower than that.

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The issue of OpenAI’s revenue has troubled the company, as it attempts to justify the gargantuan investments being made on its behalf; the AI giant raised $122 billion during a March funding round alone. The company’s leaked 2025 financials earlier this year showed it had made about $13 billion but spent significantly more. OpenAI’s IPO, which was previously rumored to be materializing this year, has been pushed off until early 2027.