OpenAI annualized revenue $20 billion lower than reported, FT says

OpenAI's annualized revenue is approximately $20 billion lower than previously reported, according to the Financial Times, citing investor documents. The company told investors its revenue neared $50 billion at the end of September, not the $70 billion widely reported. The discrepancy stems from differing calculation methods, as OpenAI excludes sales via cloud partners like AWS and Google Cloud, which rival Anthropic includes. This metric, often one month's revenue multiplied by 12, is popular among startups but can be misleading. Both OpenAI and Anthropic may be preparing for public offerings, which could provide Wall Street with clearer financial transparency. Reuters could not independently verify the report, and OpenAI did not respond to a request for comment.