Anthropic’s annualised revenue overtakes OpenAI
Five charts to start your day
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CHART 1 • Anthropic’s annualised revenue overtakes OpenAI
Anthropic is no longer just the cautious rival to OpenAI. The chart below shows its annualised revenue has jumped to about $45 billion, ahead of OpenAI’s estimated $30 billion. In AI, that is a stunning change in status.
The obvious reading is that enterprise demand has become the centre of the race. Claude may have less consumer fame than ChatGPT, but companies are paying for coding, workflow and model access where reliability counts.
Annualised revenue however is not profit, and partner-channel revenue can flatten the run-rate if it is shown gross. Still, investors will read this as proof that the AI race has more than one commercial winner.
Source: AI Supremacy
AI is becoming easier to use and harder to understand as a business. The products feel weightless, but the economics are anything but: revenue recognition, chips, electricity, market structure and investor patience all sit underneath the prompt box.
Paid subscribers get access to the other four charts: Nvidia's grip on AI chips, the scale of data-centre spending, SoftBank's challenge to Toyota, and the semiconductor rally. Together, they show where the AI boom is turning into power, and where it may already be over-priced.
