OpenAI Annual Revenue Tops $25 Billion, Anthropic Close Behind at $19 Billion

**March 5 Update (per The Information):** OpenAI’s annualized revenue topped $25 billion as of late February 2026. OpenAI CFO Sarah Friar confirmed in the company’s January 2026 official blog and multiple reports that 2025 full-year revenue exceeded $20 billion—nearly triple 2024’s $6 billion. However, subsequent investor disclosures show 2025 actual full-year revenue was ~$13 billion: beating the early $10 billion target but missing the peak $20 billion annualized forecast. Growth slowed in the second half of 2025: CNBC and other outlets estimate mid-year annualized revenue at $10 billion–$13 billion, with year-end annualized at ~$5.5 billion. By contrast, direct rival Anthropic saw its annualized revenue rise from ~$4 billion in mid-2025 to ~$9 billion by year-end (driven by enterprise clients and products like Claude Code). As of early March 2026, its latest annualized revenue has exceeded $19 billion. Currently, Claude Code’s run rate is over $2.5 billion, with more than 500 customers spending $1 million+ annually. The gap between Anthropic and OpenAI is narrowing.