OpenAI’s annualised revenue run rate for September was nearly $50 billion, about $20 billion lower than the nearly $70 billion figure reported by several media outlets last month, according to the Financial Times citing financial documents shared with investors. This discrepancy highlights differences in how OpenAI and its rival Anthropic calculate their revenue metrics amid growing competition in the AI sector.
The variance stems from the two companies’ differing methods of calculating annualised revenue. Anthropic includes revenue generated through cloud partners such as Amazon Web Services and Google Cloud, while OpenAI excludes these figures. This distinction complicates direct financial comparisons between the companies, which are both preparing for initial public offerings (IPOs). Anthropic could go public as soon as this fall, while OpenAI has delayed its IPO to focus on addressing safety concerns related to its technology, according to livemint.com.
The differing revenue calculations matter because they affect investor perceptions of the companies’ financial health and growth sustainability. Both OpenAI and Anthropic are key players in the rapidly expanding AI market, and their IPOs will provide Wall Street with clearer insights into their business models and revenue streams. The competition to sign up more business customers intensifies as AI adoption accelerates across industries.
Anthropic’s potential IPO this fall and OpenAI’s postponed listing are expected to shed light on their financials and market positioning. The Financial Times report, cited by livemint.com, underscores the importance of standardized metrics for evaluating AI companies’ performance as the sector matures.