OpenAI's Revenue Run Rate Nears $70B, Retaking the Lead From Anthropic
OpenAI's annualized revenue run rate is nearing $70 billion after surging more than 70% since Q3, driven by enterprise sales that more than doubled — putting it ahead of Anthropic's $65 billion figure from July on this closely watched, if imprecise, metric.
OpenAI's annualized revenue run rate is nearing $70 billion after climbing more than 70% since the start of the third quarter, sources told Axios — a sharp reversal in a race that Anthropic had been leading just weeks earlier.
| Company | Run rate | As of |
|---|---|---|
| OpenAI | ~$70B | Late September 2026 |
| Anthropic | ~$65B | End of July 2026 |
Annualized run rate estimates a full year's revenue based on current pace; it isn't revenue already earned over 12 months, and the two companies may not calculate it identically.
What's driving OpenAI's jump
OpenAI's business-to-business revenue more than doubled over the same period, according to Axios's sources, while the company added more consumer revenue in the third quarter alone than it added across all of 2025. Other reporting on OpenAI's finances shows enterprise revenue has overtaken consumer subscriptions as the larger share of the business, even as ChatGPT subscriptions alone are estimated to contribute roughly $22 billion in annualized revenue.
How the race has moved
Anthropic's run rate had been the one making headlines for most of the year, rising from roughly $1 billion in early 2025 to $47 billion in May and $65 billion by the end of July — a run that had put it ahead of OpenAI's roughly $40 billion figure at the time. OpenAI's newly reported acceleration would put it back in front on this specific metric, though Anthropic hasn't yet disclosed an updated run rate to match.
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