OpenAI Revenue Falls $20 Billion Short of Investor Projections, Raising AI Industry Questions
10 Sources
[1]
OpenAI's revenue is reportedly $20 billion less than previously projected
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
[2]
OpenAI projected to bring in $20bn less in revenue than expected
Questions raised over AI growth as ChatGPT maker forecasts this year's revenue at $50bn, way below the $70bn signalled before OpenAI has revealed that it is making about $20bn less in projected revenue than it had recently indicated to investors, raising questions about the break-neck growth rate
[3]
OpenAI annualized revenue $20 billion less than previously reported
OpenAI's annualized revenue is $50 billion, about $20 billion less than previously reported figures, a discrepancy related to how different AI companies account for overall sales. The big picture: The $70 billion figure, widely reported in September by Axios and other media outlets, was based on
[4]
What happened to OpenAI's $20bn? Revenue scare rattles AI trade
US tech futures rebounded on Friday, a day after a report that OpenAI's annualised revenue was $20 billion (€17.8bn) below earlier estimates helped send the Nasdaq down 1.25% and hit chipmakers and cloud giants. Wall Street looks set to recover some ground on Friday morning after confusion over
[5]
OpenAI revenue gap report rattles AI stocks
Washington (United States) (AFP) - OpenAI is bringing in about $20 billion less in annualized revenue than investors had been led to believe, the Financial Times reported Thursday, raising questions about the solidity of the AI business. Citing documents shared with OpenAI's financial backers, the
[6]
Worries About OpenAI's Revenue Rattle the AI Trade
Get personalized, AI-powered answers built on 27+ years of trusted expertise. Fears that OpenAI's revenue might be lower than expected are weighing on the AI trade. Nvidia (NVDA), Oracle (ORCL), Arm (ARM), CoreWeave (CRWV), and other AI-related stocks were among the biggest decliners in the major
[7]
What a Bummer! OpenAI Annualised Revenues Aren't $70Bn; It's Closer to $50Bn
The issue is an old one that most financial experts have raised before. The idea of taking a month's revenues and multiplying it by twelve. For those of us teetering on the edge of concern over confidence about the impact of AI on humanity and worried that AI labs aren't transparent enough, here's
[8]
OpenAI expects to reach $70 bln revenue by end-2026, Bloomberg reports By Investing.com
Investing.com-- OpenAI expects to reach or exceed $70 billion in annualized revenue by end-2026, Bloomberg reported on Friday, citing people familiar with the matter. The growth is expected to be driven chiefly by its enterprise business, the Bloomberg report said. Get more breaking news on the
[9]
OpenAI annualized revenue at $50bn, far below reports - FT By Investing.com
Investing.com -- OpenAI's annualized revenue stands at approximately $50bn as of September, about $20bn below figures previously reported to investors, according to financial documents reviewed by The Financial Times. The AI company recently informed investors that its annualized revenue was
[10]
OpenAI: $20bn gap in revenue depending on the scope used
As OpenAI seeks to persuade investors to fund its increasingly costly ambitions in artificial intelligence, its revenue would be significantly below figures recently cited. According to financial documents reviewed by the Financial Times, the creator of ChatGPT reported annualized revenue of nearly
Share
Copy Link
OpenAI revealed its annualized revenue stands at $50 billion as of September's end, roughly $20 billion below the $70 billion figure previously shared with investors. The discrepancy stems from different revenue calculation methods compared to rival Anthropic, sparking concerns about AI demand growth and rattling tech stocks including Nvidia, Oracle, and Microsoft.
OpenAI Revenue Revision Shakes Investor Confidence
OpenAI has disclosed that its annualized revenue is approaching $50 billion
1
2
, a figure that falls $20 billion short of the $70 billion previously communicated to investors last month. The ChatGPT maker shared these updated projections based on sales data through the end of September, creating immediate turbulence in tech markets. The Nasdaq closed down 1.4% on Thursday following the news, with AI-linked stocks bearing the brunt of investor anxiety2
. This revenue revision raises critical questions about AI demand growth at a time when the industry is attracting unprecedented investment and scrutiny.
Source: France 24
Revenue Calculation Methods Drive the Discrepancy
The $20 billion gap doesn't represent lost sales or missed targets. Instead, the higher $70 billion figure emerged from attempts by OpenAI's investors to create a direct comparison with Anthropic's revenue methodology
3
. Anthropic includes revenue from cloud partner sales in its calculations, counting the full amount customers pay through platforms like Amazon Web Services and Google Cloud as top-line revenue3
. OpenAI, by contrast, records only its share of certain partner sales. When a customer pays $100 for an AI service through a cloud provider, Anthropic's accounting method allows it to record the full $100 as revenue, with the cloud provider's cut listed as an expense. OpenAI records only its portion of such transactions3
. Both companies remain GAAP compliant, but their different approaches to financial reporting in the AI industry reflect varying perspectives on who controls customer relationships and product delivery responsibilities.Market Implications of AI Growth Concerns
The revenue disclosure triggered significant sell-offs across AI stocks and tech stocks more broadly
4
. Nvidia dropped 2.9%, Oracle fell 5.5%, and CoreWeave lost nearly 8%4
5
. Microsoft, Amazon, Alphabet, and Meta all declined by more than 1%4
. In Tokyo, SoftBank Group shares, which owns approximately 13% of OpenAI, fell as much as 7.3%4
. These market reactions underscore how closely investors track OpenAI annualized revenue and similar metrics from Anthropic as indicators of overall AI industry health. The figures help justify enormous spending on data centers and fuel the AI-driven stock market rally5
.
Source: CXOToday
Related Stories
Fundraising and Valuation Under Pressure
The timing of this revenue revision proves particularly sensitive as OpenAI pursues fresh fundraising. The company is in early-stage talks to raise $30 billion in a funding round valuing the business at approximately $1.4 trillion
2
5
. This follows OpenAI's March fundraising round, which closed at $122 billion with a valuation of $852 billion1
2
. The company's leaked 2025 financials showed it generated about $13 billion in revenue but spent significantly more1
. Sam Altman previously indicated that OpenAI's IPO, initially expected this year, has been pushed to early 20271
2
, citing safety concerns over AI.Competitive Landscape and Industry Trajectory
Anthropic reportedly hit $65 billion in forecast revenue by the end of July
2
, making direct comparisons challenging given the different accounting methods. Anthropic raised $65 billion in May, valuing the company at $965 billion2
, and is expected to pursue an IPO as soon as November4
. The Financial Times reported that Anthropic achieved an operating profit in the second quarter, though those figures excluded stock-based compensation3
. Despite concerns sparked by the OpenAI revenue news, other signals suggest robust AI demand. Samsung estimated its third-quarter operating profit at 107.4 trillion won ($80.2 billion), potentially the biggest quarterly operating profit ever reported by a technology company4
. Taiwan's TSMC reported September sales rose 54.6% year-on-year, with third-quarter revenue reaching a record $46.8 billion4
. Upcoming earnings from ASML and TSMC will provide clearer reads on chip demand, while potential listings by Anthropic and OpenAI could bring their audited accounts into public view4
. Watch how investor confidence evolves as these companies move toward public markets and whether standardized accounting methods emerge across the AI industry.References
Summarized by
Navi
[2]
[5]
Related Stories
OpenAI Funding Round Aims for $100 Billion as Company Slashes Spending Plans by Over Half
19 Feb 2026•Business and Economy
OpenAI spent $34 billion in 2025 as losses mount ahead of planned IPO
16 Jun 2026•Business and Economy
OpenAI Projects $20 Billion Revenue Run Rate as Company Commits $1.4 Trillion to AI Infrastructure
06 Nov 2025•Business and Economy
Recent Highlights
1
Microsoft and Nvidia Launch Surface Laptop Ultra: A $2,599 AI-Ready PC With RTX Spark Chip
Technology
2
Trump Consulted Grok AI Before Ordering Venezuela Invasion and Capture of Nicolás Maduro
Policy and Regulation
3
Scientists Build AI Model That Reconstructs Images From Brain Scans in Record Time
Science and Research
Recent Highlights
Today's Top Stories
Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Follow topics that matter to you and stay ahead.
