OpenAI tells investors its annual revenue is about $20 billion lower than earlier estimates

OpenAI has revised its revenue outlook for investors, indicating that its annualized earnings are approaching $50 billion rather than the previously reported $70 billion. The earlier, higher figure was based on data shared with investors and stemmed from attempts to align OpenAI’s numbers with Anthropic’s reported run rate, though the two firms calculate revenue differently—Anthropic includes sales through cloud partners, which OpenAI excludes.

This correction follows the leak of OpenAI’s 2025 financials showing $13 billion in revenue against substantially higher spending. The company continues to defend the scale of its funding, having secured $122 billion in a March financing round, and its anticipated initial public offering has been pushed back to early 2027.