Anthropic Generates 35% More Revenue Than OpenAI, Says The Information

Anthropic’s annualized recurring revenue (ARR) is now estimated at roughly $45 billion, putting it about 35 % ahead of OpenAI’s $33 billion ARR, according to new reporting by The Information [2]. The gap widens a stark contrast to the two companies’ recent financial disclosures: Anthropic announced an ARR of $30 billion in March 2026, a three‑fold increase from the $9 billion it reported at the end of 2025, while OpenAI’s ARR was $24 billion at the close of March 2026 [2].

Both AI powerhouses are gearing up for public listings later this year, and the emerging revenue picture reshapes expectations for their market valuations. Anthropic’s rapid ARR growth has already driven secondary‑market valuations to the $1 trillion mark, overtaking OpenAI’s $880 billion on platforms like Forge Global [3]. The surge reflects strong enterprise adoption of Claude Code and a $25 billion investment commitment from Amazon, which helped lift Anthropic’s ARR from $9 billion to $30 billion in a single quarter [3].

OpenAI, by contrast, remains cash‑intensive. Internal estimates suggest the company will not turn a profit until at least 2030, with AI‑training spend projected to hit $121 billion in 2028 alone [4]. While OpenAI’s Q1 revenue briefly led Anthropic by $1 billion, the longer‑term revenue trajectory appears to favor Anthropic’s faster growth curve [2].

The divergent financial paths raise questions about the sustainability of each firm’s business model. Anthropic’s ARR growth suggests it may achieve modest profitability this year before slipping back into loss territory, aiming for a break‑even point in 2028‑29 [4]. OpenAI’s longer horizon to profitability underscores the massive compute costs tied to its scaling ambitions.

Investors and analysts will watch whether Anthropic can translate its ARR momentum into sustained earnings as it approaches a potential IPO valuation of $400–$500 billion, while OpenAI’s path to profitability remains a multi‑year challenge. The unfolding revenue gap could shape the competitive dynamics of the AI market and influence how each company positions itself for public markets.