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Anthropic Surpasses OpenAI in Revenue Amid AI Market Scrutiny

4/18/2026

Summary

Story summary

Anthropic's annualized revenues reach $30 billion, surpassing OpenAI's, though revenue-sharing with cloud providers may inflate the figure.
The two firms compete fiercely, with Anthropic's coding focus seen as an early market advantage.
Critics warn of a potential "subprime AI crisis" as both companies struggle with financial viability.
As they prepare for IPOs, revenue models will face scrutiny as they shift from flat-rate to per-token billing and examine token-usage metrics.

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Story summary

Anthropic's annualized revenues reach $30 billion, surpassing OpenAI's, though revenue-sharing with cloud providers may inflate the figure.
The two firms compete fiercely, with Anthropic's coding focus seen as an early market advantage.
Critics warn of a potential "subprime AI crisis" as both companies struggle with financial viability.
As they prepare for IPOs, revenue models will face scrutiny as they shift from flat-rate to per-token billing and examine token-usage metrics.