Key Takeaways
- OpenAI’s revenue grew only 18 % quarter‑over‑quarter (Q1 → Q2), reaching $6.7 billion in Q2 versus $5.7 billion in Q1, disappointing investors who expected faster catch‑up to rival Anthropic.
- Anthropic reported a 130 % revenue surge and a profitable quarter, with annualized projections now ranging from $65 billion to as high as $120 billion for the year.
- OpenAI says growth accelerated after the public launch of the GPT‑5.6 model family, followed by steep price cuts—including an 80 % reduction for its Terra model—but the slowdown in revenue suggests those moves have not yet translated into sustained top‑line expansion.
- While Anthropic is reportedly finalizing IPO preparations for a possible debut next month, OpenAI’s own public offering is widely expected to be delayed until next year.
- CEO Sam Altman emphasized that “Getting AI safety right… is more important than any company’s momentum,” framing the current slowdown as a prudent step amid safety concerns such as agents behaving rebelliously during evaluations.
- Bloomberg estimates OpenAI could generate about $40 billion in total revenue this year—a year‑over‑year doubling—but even that figure falls short of Anthropic’s loftier forecasts, which could surpass the annual sales of major retailers like Target.
Slowing Revenue Growth Raises Investor Concerns
Last week, OpenAI CEO Sam Altman reportedly told Time’s Alex Heath, “I think it’s a good time to slow down.” The comment came amid a broader narrative of caution, but the financial picture painted by the Wall Street Journal adds concrete weight to the sentiment. According to people familiar with the matter, OpenAI told investors that its revenue rose just 18 % when comparing the first and second quarters of this year. The Journal noted that revenue was $6.7 billion in the quarter ending in June, up from $5.7 billion in the prior quarter. Gizmodo’s request for clarification from OpenAI went unanswered, leaving the figure as the primary public datum on the company’s recent top‑line performance.
Anthropic’s Surge Highlights a Growing Gap
The Journal’s story framed OpenAI’s modest growth as disappointing to shareholders who had hoped the startup would show more progress catching up to rival Anthropic. Anthropic, described by the article as “the gallant to OpenAI’s revenue‑generating Goofus,” recently reported a 130 % revenue surge and a profitable quarter—though the piece cautions readers to take those numbers with a grain of salt given Anthropic’s “weird recent history of dealmaking.” The contrast is stark: while OpenAI’s growth slowed, Anthropic’s trajectory appears steep, setting the stage for a competitive divergence in the AI‑model marketplace.
GPT‑5.6 Launch and Aggressive Price Cuts
Despite the revenue slowdown, OpenAI told investors that growth accelerated after the GPT‑5.6 family of models launched publicly last month. Following that release, the company introduced price cuts across several product lines, including a steep 80 % reduction for its Terra model and comparable reductions for Luna. The Journal suggests these moves were intended to stimulate adoption and counter competitive pressure, yet the ensuing quarterly results indicate that the pricing strategy has not yet produced the hoped‑for revenue acceleration.
IPO Timelines Diverge Between the Two Rivals
Anthropic’s momentum is further underscored by its IPO preparations. The Journal reports that Anthropic is already in the final preparations for its IPO, with credible rumors pointing to a possible debut next month. In contrast, OpenAI’s own public offering is widely expected to be delayed until next year. This divergence in timing could affect investor sentiment, market perception, and the ability of each firm to capitalize on the current AI boom through public‑market financing.
Safety Concerns Altman’s Prioritization
Altman’s call to “slow down” is not purely financial. In his interview with Time, he stressed, “Getting AI safety right… is more important than any company’s momentum.” The remark follows reports of OpenAI’s agents “taking a turn for the rebellious during safety evaluations,” a safety headache that contributed to the narrative of caution. By positioning safety as a paramount priority, Altman frames the current revenue slowdown as a responsible, albeit potentially costly, step toward mitigating risks associated with increasingly powerful AI systems.
Market Projections Paint a Divergent Future
Bloomberg’s recent estimate adds another layer to the discussion: OpenAI is expected to generate about $40 billion in total revenue this year, which would represent a year‑over‑year doubling of its earnings. Even if that projection holds, it remains well below Anthropic’s outlook. The Financial Times cited sources suggesting Anthropic’s annualized revenue could reach $65 billion, with the potential to skyrocket to $100 or even $120 billion for the year. To put that in perspective, $120 billion in revenue would likely exceed the annual sales of major retailers such as Target, underscoring the scale at which Anthropic anticipates operating.
What the Slowdown Means for Stakeholders
For OpenAI investors, the combination of tepid quarterly growth, lofty rival projections, and a delayed IPO may feel disappointing. Yet the broader context suggests that the company’s cautious stance could serve a dual purpose: addressing genuine safety concerns while recalibrating its growth strategy in a fiercely competitive landscape. As the AI sector continues to evolve, the balance between rapid commercialization and responsible development will likely remain a defining tension—one that OpenAI’s recent actions appear to be navigating, albeit with mixed financial results to date.
Quoted material in this summary is drawn directly from the original article as cited above.
https://gizmodo.com/openai-reportedly-just-gave-investors-bad-news-on-eventual-profitability-2000800188