OpenAI and Anthropic's revenue measurement discrepancies raise market concerns

According to a report by Bloomberg, there is a significant difference in the revenue accounting standards between OpenAI and Anthropic, making it difficult to directly compare the annualized revenues disclosed by both companies. Anthropic includes total sales generated through cloud service partners like Amazon in its revenue, while OpenAI only confirms its net income share from partners like Microsoft. Neither company has disclosed standardized financial statements, making it challenging for investors to accurately calculate the actual business scale.

Insiders say that OpenAI expects its actual revenue for the full year 2026 to be around $35 billion, which is about half of its year-end target of $70 billion in annualized revenue. Documents seen by Bloomberg show that Anthropic's actual revenue for 2025 is approximately $4.6 billion, while its then-disclosed annualized revenue has already exceeded $9 billion. Analysts point out that annualized revenue is typically extrapolated from short-term performance or contract value and cannot be equated to actual confirmed revenue for the entire year.