OpenAI Revises Annualized Revenue to $50 Billion, Delaying IPO to 2027 Amid Accounting DiscrepanciesIT之家 · 智能时代T2Industry & Ecosystem

IT之家 · 智能时代 · 10/9/2026, 07:02:44

OpenAI Annualized Revenue Revised to Near $50B: Excluding Cloud Channel Sales Triggers $20B Gap and Tech Stock Volatility

By IT之家Original title: OpenAI 年化营收被曝接近 500 亿美元，比预期少了约 200 亿

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Executive Summary

OpenAI disclosed annualized revenue approaching $50 billion as of late September, significantly lower than the previously estimated $70 billion. The discrepancy stems from differing accounting standards: OpenAI excludes indirect revenue generated through cloud partners like AWS and Google Cloud, whereas competitor Anthropic includes it. This correction in a key indicator of global AI demand triggered a sell-off in tech stocks, with Nvidia, Oracle, and Micron experiencing notable declines.

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OpenAI has recently disclosed to investors that its annualized revenue is approaching $50 billion as of the end of September (approximately 335.623 billion RMB at current exchange rates). This figure is significantly lower than reports from mainstream media last month, which estimated OpenAI's annualized revenue at$ 70 billion (approximately 469.872 billion RMB) based on data previously provided to investors.

Sources familiar with the matter revealed that this discrepancy stems from investors attempting to directly compare OpenAI's annualized revenue with that of its competitor, Anthropic. However, the two companies use different financial accounting standards: Anthropic includes revenue generated through cloud service partners such as Amazon Web Services (AWS) and Google Cloud, whereas OpenAI excludes this partner-related income from its calculations.

This revenue data (along with similar metrics for Anthropic) serves as a critical barometer for assessing overall global AI market demand. It also underpins massive investments in compute infrastructure and drives gains in secondary stock markets.

Following the Financial Times' publication of this report, US tech stocks fell sharply. The Nasdaq-100 index closed down 1.4%. Specifically, Nvidia dropped 2.9%, Oracle slid 5.5%, and Micron Technology declined 4.8%.