OpenAI cuts revenue forecast by $20 billion to $50 billion

OpenAI has informed investors it expects $50 billion in annual revenue, a $20 billion shortfall from earlier projections of $70 billion, according to a Financial Times report. The news has rattled markets and hit tech stocks. The earlier $70 billion figure came from investors comparing OpenAI with rival Anthropic, whose revenue includes cloud providers, unlike OpenAI's accounting. The report raises concerns about profitability amid massive AI infrastructure spending, with OpenAI having raised $122 billion in March. OpenAI is seeking an additional $30 billion at a $1.4 trillion valuation, but CEO Sam Altman delayed its IPO past 2026, citing AI safety. Anthropic, which lost $42 billion in 2025, still plans to go public this year.