Anthropic has reportedly surpassed OpenAI in quarterly sales for the first time, a notable development in the ongoing rivalry between the two leading artificial intelligence companies. According to The Wall Street Journal, Anthropic's revenue more than doubled to $11.6 billion in its second quarter, and the company reported a small adjusted profit.
This figure stands in contrast to OpenAI's second-quarter revenue of $6.7 billion, an 18% increase from the previous quarter. OpenAI reported a widening operating loss, including stock-based compensation, to $12.3 billion during the second quarter, up from $9.3 billion in the first quarter. Despite its revenue lead, Anthropic's methodology for calculating its adjusted profit was not disclosed.
Former Microsoft executive Rob Collie commented on the differing business models, stating that while "hundreds of millions of free chatbot users represent OpenAI’s head start, but they don’t generate revenue. They only generate cost." He added, "A paying business customer with AI wired into their workflow is a revenue engine." This suggests a shift in focus towards revenue-generating business clients as a key differentiator.
The competitive dynamic between Anthropic and OpenAI intensified following Anthropic's announcement of a $65 billion funding round at a $965 billion post-money valuation in May, which placed its latest private valuation above OpenAI's $852 billion valuation from a March financing deal.
Ravi Sawhney, founder and CEO of RKS Design, suggested that while OpenAI established the AI category, market leadership can shift. "The question eventually shifts from ‘Who has the technology?’ to ‘Who has built the product, service or brand that people actually want to use?’" Sawhney noted that Anthropic seemed to recognize this shift earlier, highlighting its Claude Code product as an example of focusing on specific problems where AI can deliver measurable value.
This shift in revenue also represents a dramatic turn in the corporate battle that began in late 2020. Anthropic was founded by Dario Amodei, OpenAI's former vice president of research, along with several colleagues who departed due to disagreements over the company's direction, governance, and approach to AI safety. Amodei and his sister, Daniela Amodei, who serves as president, established Anthropic with a stated commitment to prioritizing safety.
The two companies have become fierce competitors in attracting talent, securing corporate customers, and raising investment capital. The relationship between OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei has been notably contentious. Sawhney believes OpenAI may have lost focus as the AI market matured and corporate clients began looking beyond raw technological capabilities. "Where I think OpenAI got distracted was trying to be too many things to too many people while the market was beginning to mature," Sawhney said.
The rivalry was highlighted during OpenAI's boardroom crisis in November 2023. Directors who had ousted Altman reportedly approached Amodei about potentially replacing Altman and discussed a possible merger between the two companies, though Amodei rejected both overtures. Altman was reinstated days later.
Earlier this year, Anthropic launched a Super Bowl ad campaign that critiqued the idea of in-AI advertising, promoting its Claude assistant as ad-free. Altman responded by calling the campaign "clearly dishonest" and accusing Anthropic of "doublespeak."