OpenAI generated $5.7 billion in revenue during the first quarter, putting it $1 billion ahead of rival Anthropic, according to a report by The Information.
The report said OpenAI’s growth was driven by rising use of its coding tool Codex, the expansion of its business-focused products and early advertising experiments on ChatGPT.
The company has also been expanding premium options for heavy users of its AI. Last month, OpenAI introduced a new ChatGPT Pro subscription priced at $100 per month, offering higher access to Codex as it competes with Anthropic on pricing and access models.
However, at the same time, Anthropic is projecting strong growth of its own. According to The Information, the company expects second-quarter revenue to double to $11 billion and anticipates a profit of around $600 million.
The report also said Anthropic’s annualised revenue has recently climbed to nearly $45 billion, overtaking OpenAI’s $25 billion. For Anthropic, this marks a sharp jump from about $9 billion at the end of last year.
Investor interest in Anthropic has also continued to rise. Earlier this month, the Financial Times reported that the company had agreed to terms for a $30 billion fundraising round that would value it at $900 billion. That would place Anthropic above OpenAI’s most recent valuation of $852 billion from its March funding round.
Anthropic was previously valued at $380 billion following a separate $30 billion funding round in February.
Meanwhile, new figures from Ramp’s AI Index suggest more businesses are starting to favour Anthropic’s tools. In April, around 34.4% of the companies surveyed were paying for Anthropic’s AI products, slightly ahead of OpenAI at 32.3%.
Both companies are reportedly preparing for possible IPOs later this year.
