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Revenue

OpenAI vs. Anthropic Revenue Run Rate

Best-estimate month-end annualized revenue run rate for OpenAI and Anthropic, in USD billions, from January 2023 through July 2026. Reported anchors are connected with modeled interpolation.

OpenAI vs. Anthropic Revenue Run Rate

  • OpenAI
  • Anthropic
As of 2026-07-31, Anthropic leads with an estimated annualized revenue run rate of $65.$80B$60B$40B$20B$0Jan '26Mar '26Apr '26May '26Jun '26Jul '26{"f":[800,420,56,16],"s":[["OpenAI","#16a34a"],["Anthropic","#ea580c"]],"p":[["2026-01-31T00:00:00.000Z","Jan '26",56,[[0,"$23.22B",274.34,null],[1,"$12.4B",323.58,null]],null],["2026-02-28T00:00:00.000Z","Feb '26",168.62,[[0,"$25B",266.25,null],[1,"$18.1B",297.65,null]],null],["2026-03-31T00:00:00.000Z","Mar '26",293.3,[[0,"$24B",270.8,null],[1,"$27.7B",253.96,null]],null],["2026-04-30T00:00:00.000Z","Apr '26",413.97,[[0,"$28.5B",250.33,null],[1,"$39.5B",200.28,null]],null],["2026-05-31T00:00:00.000Z","May '26",538.65,[[0,"$33B",229.85,null],[1,"$50.3B",151.14,null]],null],["2026-06-30T00:00:00.000Z","Jun '26",659.31,[[0,"$32B",234.4,null],[1,"$57B",120.65,null]],null],["2026-07-31T00:00:00.000Z","Jul '26",784,[[0,"$40B",198,null],[1,"$65B",84.25,null]],null]]}OpenAI: $40B (Jul '26). Anthropic: $65B (Jul '26)
SOURCE: The Latent

As of 2026-07-31, Anthropic leads with an estimated annualized revenue run rate of $65.

Pro API coming soon

Methodology

Annualized revenue run rate is a forward-looking pace, not booked or GAAP revenue. OpenAI has been reported to annualize a recent four-week revenue period; Anthropic annualizes recent API revenue and recurring chatbot subscriptions. The figures therefore should not be forced to reconcile exactly with quarterly booked revenue.

The reconstruction uses reported anchors from Epoch AI, company disclosures, Reuters, Bloomberg, CNBC, the Financial Times, and The Information. OpenAI anchors include roughly $210M near the start of 2023, more than $1B in August 2023, $3.4B in June 2024, $10B in June 2025, and $21.4B at year-end 2025. Anthropic anchors include $87M at the start of 2024, $1B at year-end 2024, $2B in March 2025, $7B in October 2025, $9B at year-end, and $65B in July 2026.

OpenAI’s February–July 2023 path includes a discrete step for the launch of ChatGPT Plus and is calibrated against the reported roughly $1B 2023 revenue total. Epoch AI independently estimates $319M for the first half and $617M for the second half of 2023; the quarterly reconstruction falls within Epoch’s published confidence intervals. A single smooth interpolation from January to August materially understates the first-half revenue implied by those constraints.

Other missing month-end observations are primarily reconstructed with geometric (log-linear) interpolation, which models percentage growth rather than equal dollar additions. Reported bumps, slowdowns, and declines override that interpolation. This is why OpenAI remains visibly uneven in 2026 rather than being forced into a cosmetically smooth curve.

Confidence is stored for every company-month in the downloadable CSV. Exact means a directly reported month-end or current-period figure, though it may be rounded or described as “over” or “topped.” High means closely bracketed by strong disclosures; Medium is modeled between good anchors; Low is genuinely speculative. OpenAI June 2026 is the weakest point, with a central estimate of $32B and a plausible range of roughly $30B–$35B.

Monthly estimates are interpolated between company disclosures and reported private financial data.

Frequently asked questions

Is annualized run rate the same as quarterly revenue?

No. Run rate annualizes a recent revenue period, while quarterly revenue measures revenue booked over the quarter. The two can diverge because of timing, methodology, and volatile usage.

Why are some monthly points estimates?

Private companies do not publish a complete monthly series. The chart preserves reported anchors and estimates intervening month-ends from the closest dated evidence. Each source point stores a confidence label and editorial note.

Why does this matter for the AI industry?

The comparison shows the pace at which leading AI labs are converting model demand into recurring commercial activity. It is an evidence-weighted directional indicator, not a claim that either company’s private finances are fully observable.