OpenAI 的收入比先前传的少约 200 亿美元：向投资人称年化接近 500 亿，两家公司的算法差异是关键——Anthropic 计入云伙伴销售额
OpenAI’s revenue is reportedly $20 billion less than previously projected
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导读
就在一个多星期前，还报道称 OpenAI 年化收入接近 700 亿美元、足以与 Anthropic 报告的运行率相提并论；如今据称这家实验室告诉投资人，真实收入比那个数字低了约 200 亿美元。《金融时报》报道，公司已向投资人表示其年化收入「接近 500 亿美元」；那个 700 亿的口径此前由媒体基于流向 OpenAI 投资人的信息报道，而 FT 称它来自「OpenAI 自家投资人试图与 Anthropic 年化收入做直接对比的尝试」。文章提醒一处容易被忽略的口径差异：OpenAI 与 Anthropic 计算年化收入的方式不同——Anthropic 会把云伙伴售出的部分计入，OpenAI 不计。收入问题一直困扰着这家公司，因为它需要为替它进行的巨额投资提供正当性：仅 3 月一轮融资就募得 1220 亿美元。今年早些时候泄露的 2025 年财务显示它赚了约 130 亿美元但支出远高于此。原本传闻今年成行的 OpenAI IPO 也已推迟到 2027 年初。
推荐理由
数字规模上的实质修正（700 亿到接近 500 亿）且点明两家算法差异，是 AI 经济可持续性讨论里可直接引用的口径提醒；但主体为 FT 转述、无公司正面确认。
主体与标签
OpenAI#融资/并购#行业动态
正文
11:19 AM PDT · October 8, 2026
A little over a week ago, it was reported that OpenAI’s annualized revenue was approaching $70 billion, a figure that would have made it competitive with Anthropic’s reported run rate . Now, however, the AI lab is said to have told investors that the real revenue is some $20 billion lower than that.
The Financial Times reports that the company has told investors that its annualized revenue is “approaching $50 billion.” The $70 billion figure was previously reported by news outlets and based on information that had been shared with OpenAI investors, the outlet writes. That figure was devised via “attempts by OpenAI’s own investors to produce a direct comparison with Anthropic’s annualised revenues,” per the FT.
It’s worth pointing out that OpenAI and Anthropic calculate their annualized revenue differently — with Anthropic counting sales made by its cloud partners. OpenAI doesn’t do this.
TechCrunch reached out to OpenAI for comment.
The issue of OpenAI’s revenue has troubled the company, as it attempts to justify the gargantuan investments being made on its behalf; the AI giant raised $122 billion during a March funding round alone. The company’s leaked 2025 financials earlier this year showed it had made about $13 billion but spent significantly more. OpenAI’s IPO, which was previously rumored to be materializing this year, has been pushed off until early 2027.