Anthropic overtakes OpenAI in quarterly revenue as ChatGPT maker reports 18% growth and deepening losses

Aug 19, 2026

Anthropic has overtaken OpenAI in quarterly sales for the first time, reporting $11.6 billion in second-quarter revenue and a small adjusted profit of $559 million. Meanwhile, OpenAI's revenue grew a tepid 18% sequentially to $6.7 billion, while its operating losses widened to $12.3 billion. The divergence highlights a major shift in the AI race, as OpenAI struggles with stalling ChatGPT growth and heavy user subsidies, while Anthropic's developer-focused Claude Code gains rapid enterprise traction.

OpenAI Q2 revenue growth

▪OpenAI's second-quarter 2026 sequential growth rate trailed other high-growth technology companies, including CoreWeave, Micron Technology, and Palantir Technologies
▪OpenAI reported second-quarter 2026 revenue of $6.7 billion, representing an 18% sequential increase from the $5.7 billion recorded in the first quarter
▪OpenAI's 18% sequential revenue growth in the second quarter of 2026 disappointed some investors who expected faster progress in competing with Anthropic
▪OpenAI told investors that its revenue growth rate accelerated in the third quarter of 2026 following the launch of new models in July 2026

OpenAI Q2 operating losses

▪OpenAI's operating margin sank further into the red in the second quarter of 2026, expanding its losses faster than its revenue grew
▪OpenAI's operating loss, including stock-based compensation, widened to $12.3 billion in the second quarter of 2026 from $9.3 billion in the first quarter
▪OpenAI faces financial pressure from subsidizing hundreds of millions of free ChatGPT users and lowering prices on two recent models for cost-conscious corporate customers

Anthropic Q2 revenue surge

▪Anthropic's sequential revenue growth in the second quarter of 2026 jumped by more than 50% to reach its $11.6 billion total
▪Anthropic more than doubled its revenue to $11.6 billion in the second quarter of 2026, surpassing OpenAI's quarterly revenue for the first time

Anthropic first quarterly profit

▪Anthropic's reported second-quarter 2026 operating profit was $559 million, though the private company did not publicly disclose the methodology used to calculate this adjusted figure
▪Anthropic reported a small adjusted operating profit for the first time in the second quarter of 2026, which it attributed to more efficient use of computing resources

ChatGPT growth slowdown

▪OpenAI's early market dominance has been challenged as corporate customers shift some workloads to cheaper open-source alternatives, including Chinese AI systems
▪OpenAI has experienced a slowdown in the growth of its ChatGPT chatbot, which has put pressure on the company to adjust its business strategy

Claude Code developer adoption

▪Anthropic's Claude Code product has gained significant traction with developers and enterprise customers, driving the company's rapid revenue expansion
▪Industry analysts state that Anthropic's focus on targeted enterprise tools like Claude Code has allowed it to secure high-value, sticky corporate contracts