Anthropic has emerged as a strong challenger to OpenAI in the race to sell artificial intelligence to businesses, with its revenue rising sharply as demand for its Claude models grows. But investors weighing the two companies must look beyond sales growth to understand which business is better placed to deliver returns.
Anthropic, which unveiled its initial public offering filing on Monday, reported revenue of $16.29 billion in the first half of 2026. OpenAI, the maker of ChatGPT, reported quarterly revenue of $6.7 billion in the second quarter, according to Reuters.
