Anthropic surpassed OpenAI in quarterly revenue for the first time in the second quarter, underscoring a shift in the competitive landscape between the two leading artificial intelligence companies. Anthropic posted $11.6 billion in revenue for the three months ended in June, more than doubling its first-quarter total of $4.73 billion, according to CNBC. The figures are preliminary and could still change.
OpenAI, by contrast, reported revenue of $6.7 billion in the second quarter, up 18% from $5.7 billion in the first quarter, according to The Wall Street Journal. The result disappointed some investors who had hoped OpenAI would show more progress closing the gap with its rival. OpenAI's operating loss grew to $12.3 billion in the second quarter, up from $9.3 billion in the first, a pace that exceeded revenue growth.
Anthropic, by contrast, recorded a small adjusted operating profit of $559 million over the same period, according to SiliconAngle, citing that the company had made more efficient use of its computing resources. It is unclear what methods Anthropic used to calculate its adjusted profit, and the company excludes stock-based compensation from the figure, according to the Wall Street Journal. The divergence reflects a broader realignment in the AI industry.
ChatGPT's decelerating growth, alongside the breakout popularity of Anthropic's Claude Code among corporate clients, has forced OpenAI into a reactive posture. OpenAI has responded with sweeping management changes, including the exit of Chief Revenue Officer Denise Dresser, who had been in the role for under a year. Dresser joined a growing list of departures that includes former Chief Operating Officer Brad Lightcap and Fidji Simo, who had widely been viewed as a possible heir to Chief Executive Officer Sam Altman.
OpenAI privately told investors that momentum picked up after it introduced new models in July, but offered no supporting data to substantiate the assertion. The company also launched an application that bundles ChatGPT, Codex, and a web browser into a single offering, which it says has been gaining users at a rapid clip. Co-founder and President Greg Brockman has stepped up his day-to-day involvement across product and commercial operations as the company works to restore its growth trajectory.
Chief Financial Officer Sarah Friar told employees that the company's annualized recurring revenue in July had already exceeded the total for the second quarter. OpenAI posted a net loss of $38.5 billion in 2025 on $13.07 billion in revenue, according to audited financial documents. The company is currently valued at $852 billion.
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