WSJ reported Anthropic passed OpenAI in quarterly revenue while OpenAI’s losses widened.
The Wall Street Journal reported that OpenAI’s second-quarter revenue rose 18 percent to $6.7 billion while operating losses widened to $12.3 billion, and that Anthropic’s revenue more than doubled to $11.6 billion with a small operating profit. Axios separately reported Anthropic’s annualized revenue run rate had topped $65 billion, citing Bloomberg reporting and tying the growth to enterprise demand.
Verified 12:07 AM PDT · 2 original sources
The evidence
What the reporting establishes
What happened
The Wall Street Journal reported that OpenAI’s second-quarter revenue rose 18 percent to $6.7 billion while operating losses widened to $12.3 billion, and that Anthropic’s revenue more than doubled to $11.6 billion with a small operating profit. Axios separately reported Anthropic’s annualized revenue run rate had topped $65 billion, citing Bloomberg reporting and tying the growth to enterprise demand.
Pressure point
These are reported private-company financial figures, not audited public-company filings. The signal is still material because it shifts the business question from consumer reach to whether enterprise coding and agent workflows can carry frontier-model economics.
What to watch
Whether IPO filings or audited disclosures confirm the revenue and loss figures, whether Claude Code-style workflow revenue persists after pricing pressure, whether OpenAI’s broader consumer strategy converts to margin, and whether compute costs keep falling fast enough to change the comparison.
Audit the story
Original sources
Company claims remain company claims. Follow the reporting and judge the evidence directly.
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