OpenAI 向投资者披露年化营收接近 500 亿美元，较此前预期低约 200 亿美元
OpenAI’s revenue is reportedly $20 billion less than previously projected
- 1OpenAI 向投资者表示年化营收接近 500 亿美元，比一周多前流传的 700 亿美元低约 200 亿美元
- 2《金融时报》称 700 亿美元旧数字出自投资者与 Anthropic 营收的直接对比尝试，两家统计口径并不一致
- 3此前传闻年内推进的 OpenAI IPO 已推迟至 2027 年初
- 4OpenAI 3 月单轮融资 1220 亿美元，泄露的 2025 年财务显示营收约 130 亿美元而支出明显更高
OpenAI 营收预期大幅下修叠加 IPO 推迟，说明其巨额投入与实际收入之间的缺口正被投资者重新审视。
- 影响：企业选型 AI 供应商时需把对方营收与融资的真实状况纳入风险评估；不同厂商年化营收算法不同，直接对比数字容易失真；OpenAI 自身正为巨额投入的合理性寻找依据。
- 参考：可考虑先核清在用 AI 供应商的营收统计口径与融资进展，再决定是否签长期合约；值得盘点对单一厂商的依赖清单，为预算与议价留出备选空间。
- 依据：500 亿美元口径来自《金融时报》转述 OpenAI 对投资者的披露，此前 700 亿美元为投资者自行测算，两家营收统计方式并不一致。
In Brief
Posted:
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.
来源：TechCrunch · AI · techcrunch.com