OpenAI's Profitability Outlook Hits Speed Bump

OpenAI's financial trajectory hit turbulence last week as the company reportedly shared underwhelming revenue growth with investors. Sources told the Wall Street Journal that OpenAI's Q2 revenue reached $6.7 billion, a mere 18% increase from the previous quarter's $5.7 billion. This news disappointed shareholders who had hoped to see more progress catching up to rival Anthropic, which recently reported a 130% revenue surge and a profitable quarter. OpenAI also hinted that growth accelerated following the public launch of its GPT-5.6 models last month, though it simultaneously introduced steep price cuts for some models, including an 80% reduction for Terra.

The slowdown comes amid broader challenges for OpenAI, including safety concerns raised by its AI agents behaving unpredictably during evaluations. CEO Sam Altman emphasized the importance of getting AI safety right over rapid growth. Meanwhile, Anthropic is in final preparations for an IPO expected next month, projecting annualized revenue as high as $120 billion—more than retail giant Target. OpenAI's own IPO, once anticipated this year, is now likely delayed to 2025. Bloomberg estimates OpenAI will generate about $40 billion in total revenue this year, roughly half of Anthropic's projected figure.