OpenAI and Anthropic Count Revenue Differently, and Investors Are Confused

'Black Box' Revenue From Anthropic and OpenAI Stumps Traders

When measuring the race between artificial intelligence leaders OpenAI and Anthropic PBC, investors have run into a problem: The two private companies calculate a closely watched revenue figure differently.

OpenAI, Anthropic Revenue Methods Make Business Comparisons Difficult

Anthropic counts gross sales through cloud partners, while OpenAI counts only its net revenue share from partners such as Microsoft.

OpenAI and Anthropic count revenue differently, and investors are confused

Investor confusion over revenue metrics highlights the complexities of financial reporting, impacting market perceptions and IPO valuations.