Anthropic passes OpenAI on revenue for the first time at $11.6 billion
This digest was compiled by AI from multiple sources — links to the originals are below.
Anthropic passes OpenAI on revenue for the first time, reporting $11.6 billion for the June quarter against OpenAI's $6.7 billion. OpenAI's quarter-on-quarter sales growth cooled to 18 percent and losses deepened, unnerving some investors ahead of a planned IPO. Both companies face a price war with Chinese rivals offering only marginally less advanced models at a significant discount.
Key Facts
- Anthropic reported $11.6 billion in revenue for the June quarter and a small operating profit, surpassing OpenAI's $6.7 billion for the same period.
- OpenAI's quarter-on-quarter sales growth slowed to 18 percent while its losses deepened.
- Anthropic's annualized revenue rate reached $65 billion, up more than sevenfold from a year earlier.
- Anthropic's annualized revenue rate was more than 50 percent above OpenAI's.
- Both companies are locked into a price war with Chinese competitors that offer only marginally less advanced models at a significant discount.
June Quarter Results
OpenAI told investors that revenue rose to $6.7 billion in the quarter ending in June from $5.7 billion in the first quarter, an 18 percent increase. Anthropic reported $11.6 billion in revenue and posted a small operating profit for the same stretch. OpenAI's operating margin slipped further into the red, keeping the company out of profit ahead of an expected IPO. OpenAI said growth picked up again after GPT-5.6 launched in July.
Anthropic's Rise
Anthropic's annualized revenue rate reached $65 billion, up more than sevenfold from the end of last year. That level was more than 50 percent above OpenAI's. Slower growth at ChatGPT and the success of Anthropic's coding tool Claude Code are putting pressure on OpenAI. Anthropic earns far more per use from its Claude models.
Investor and China Pressure
The slowdown in OpenAI's sales growth disappointed some shareholders. Both companies are increasingly locked into a price war with Chinese competitors, some of which offer only marginally less advanced models at a significant discount. US labs have cut the middle and are defending the top, an expert told the Financial Times.
3 sources
Anthropic passes OpenAI on revenue for the first time at $11.6 billion
