OpenAI posted Q1 revenue of $5.7 bn, beating Anthropic by roughly $1 bn, driven by Codex, enterprise sales, and ChatGPT ads.
Anthropic’s annualized revenue neared $45 bn, surpassing OpenAI’s $25 bn estimate, and projects Q2 revenue near $11 bn with $600 m operating profit.
Both firms are eyeing potential IPOs as early as Q4 2026 to raise additional capital.