OpenAI told investors that its annualised revenue for September 2026 was nearly $50 billion, lower than the figure of almost $70 billion that had been indicated earlier, according to a Reuters report published by The Economic Times on October 9, 2026.
A person familiar with the matter told Reuters on Thursday that the revised figure largely reflected an effort to make OpenAI’s revenue calculations directly comparable with those of its rival, Anthropic. The person spoke on condition of anonymity. OpenAI did not respond to a request for comment.
The latest figure was first reported by the Financial Times. Earlier reports from Reuters and other media outlets had indicated that OpenAI’s annualised revenue run rate for September was approaching $70 billion.
The difference stems from how the two artificial intelligence companies account for revenue generated through cloud partners. OpenAI does not include revenue from sales made through cloud providers such as Amazon Web Services (AWS) and Google Cloud in the same way Anthropic does. Anthropic includes such revenue in its calculations.
According to a Reuters analysis, Anthropic pays cloud partners approximately 16% of every dollar earned through them. These partner-based sales accounted for half of Anthropic’s revenue last year.
The difference in calculation methods is important when comparing the companies’ reported revenue figures. Annualised revenue run rate is a measure often calculated by multiplying revenue from a single month by 12. Although widely used by fast-growing technology companies, analysts consider it a potentially misleading indicator because it extrapolates a shorter period’s performance across an entire year.
OpenAI’s annualised revenue has grown significantly in recent years. The company began 2024 with an annualised revenue figure of $6 billion and started 2026 at $20 billion.
However, Anthropic surpassed OpenAI in quarterly revenue for the first time in the second quarter of 2026. OpenAI reported revenue of $6.7 billion for the quarter, compared with Anthropic’s $11.5 billion.
Anthropic’s annualised revenue crossed $65 billion in July 2026 and is expected to reach $100 billion by the end of the year, according to sources previously cited by Reuters.
Both OpenAI and Anthropic are preparing for potential public listings. Their moves towards the public markets could give investors a clearer view of their financial performance, including whether the rapid revenue growth driven by demand for artificial intelligence applications can be sustained.
The latest disclosure provides a revised picture of OpenAI’s September revenue run rate, while highlighting the differences in how major AI companies report and compare their financial performance.
