Anthropic, OpenAI revenue race tightens

This is a big milestone for Anthropic, but it is not a simple “Anthropic beat OpenAI” story. Both companies are still private, and the revenue figures appear to use different accounting treatments, which makes the comparison directionally useful but not definitive.

• –Anthropic’s growth remains enterprise-led, especially through Claude and Claude Code, which is exactly where high-ACV AI spend is concentrating
• –OpenAI still has the larger consumer footprint, so revenue parity does not mean parity in usage or brand reach
• –The real signal is how fast frontier AI has become a multi-tens-of-billions business, driven by subscriptions, APIs, and enterprise seats
• –If Anthropic is really nearing or matching OpenAI on run-rate, it strengthens the case that coding and work-assistant workloads are the most monetizable AI category
• –Treat any “surpasses” framing cautiously until both companies disclose consistent definitions or audited financials