AI company revenue 2026
How much the leading AI labs actually make, using reported figures where they exist and labelled third-party estimates where they do not (not investor talking points), each with its basis, date and source. The ranked table lives on the revenue leaderboard; this page adds shares, gaps and the timeline. For the latest figures whatever the year, see AI company revenue (always current).
Data as of the week of 26 Oct 2026 (updated 26 Oct 2026, 08:09, Bucharest time). Every figure links to its source; see the methodology.
Revenue run-rate, 7 labs
| Lab | Revenue | Share of tracked total (computed) | Basis | As of | Source |
|---|---|---|---|---|---|
| Anthropic | $67.2B | 42.6% | Q3 2026 revenue × 4 (computed; $16.8B quarter told to investors, gross accounting) | 30 Sept 2026 | CNBC (also Reuters, Bloomberg, FT) (opens in new tab) |
| OpenAI | $50B | 31.7% | annualized run-rate, end of September (net of partner share) | 30 Sept 2026 | Axios (opens in new tab) |
| xAI (SpaceXAI) | $30.2B | 19.2% | Q3 2026 Super Intelligence (SI) segment revenue × 4 (computed; segment includes compute rental, Cursor and X ads) | 30 Sept 2026 | SpaceX Q3 2026 results (SEC 8-K) (opens in new tab) |
| Alibaba (Qwen) | $7.3B | 4.6% | AI-related product revenue, June quarter × 4 (computed; parent-segment metric) | 30 Jun 2026 | Alibaba June Quarter 2026 results (opens in new tab) |
| Mistral AI | $1B | 0.6% | ARR, 'slightly above $1B' per CFO | 8 Sept 2026 | WSJ (opens in new tab) |
| DeepSeek | $1B EST | 0.6% | annualized revenue, September (third-party estimate) | 30 Sept 2026 | Sacra (estimate) (opens in new tab) |
| Moonshot AI (Kimi) | $1B | 0.6% | ARR (current, per Bloomberg) | 6 Oct 2026 | Silicon Republic (Bloomberg) (opens in new tab) |
Run-rates use each company's own accounting and different as-of dates, so the share column is a rough guide, not a market share. EST = third-party estimate, not a company figure. Total of tracked labs (computed by us): $158B.
Claimed vs reported
| Lab | Claimed (not scored) | Reported (scored) | Gap (computed) | Claim source |
|---|---|---|---|---|
| OpenAI | $70B | $50B | $20B | Axios (opens in new tab) |
| Moonshot AI (Kimi) | $2B | $1B | $1B | Silicon Republic (Bloomberg) (opens in new tab) |
When a company or its investors push a higher number than what is later reported, we show both and score the reported one. More in Claimed vs reported revenue.
Revenue changes between our snapshots
- Anthropic: $65B → $67.2B (snapshot 17 Oct 2026 → 19 Oct 2026)
- xAI (SpaceXAI): $3.3B → $30.2B (snapshot 22 Oct 2026 → 26 Oct 2026)
Revenue news timeline
- 26 Oct 2026 · Anthropic: Filed S-1 to list on Nasdaq as ANT (price range blank). H1 2026: revenue $16.29B (H1 2025: $1.16B), operating loss $693M, net loss $80.7B, of which $72.4B is a non-cash fair-value charge on convertible notes and SAFEs. Anthropic S-1 (SEC EDGAR) (opens in new tab)
- 26 Oct 2026 · Anthropic: Full-year revenue: $41M (2023), $386M (2024), $4.59B (2025). 2025 net loss $42.0B, incl. $34.3B fair-value charge and the $1.5B Bartz settlement. Anthropic S-1 (SEC EDGAR) (opens in new tab)
- 26 Oct 2026 · Anthropic: $131.7B cash and short-term investments and $141.1B raised to date (30 Jun 2026); ~$265.6B fixed compute and infrastructure commitments; >11,900 customers paying $100K+ a year (30 Sep 2026); ~900% net revenue retention. Anthropic S-1 (SEC EDGAR) (opens in new tab)
- 14 Oct 2026 · Anthropic: Q3 2026 revenue $16.8B, up 45% from $11.6B in Q2. Profitable on an adjusted basis. CNBC (opens in new tab)
- 14 Oct 2026 · Anthropic: 11% adjusted margin; about $1.70 of revenue per $1 spent on compute. Financial Times (opens in new tab)
- 8 Oct 2026 · OpenAI: The ~$70B figure became ~$50B. Annualized revenue is about $20B less than previously reported (an accounting 'gross-up'). Axios (opens in new tab)
- 30 Sept 2026 · Anthropic: revenue updated to $67.2B (was $65.0B) · Q3 2026 revenue × 4 (computed; $16.8B quarter told to investors, gross accounting) CNBC (also Reuters, Bloomberg, FT) (opens in new tab)
- 30 Sept 2026 · xAI (SpaceXAI): revenue updated to $30.2B (was $3.3B) · Q3 2026 Super Intelligence (SI) segment revenue × 4 (computed; segment includes compute rental, Cursor and X ads) SpaceX Q3 2026 results (SEC 8-K) (opens in new tab)
- 30 Sept 2026 · DeepSeek: Sacra estimates about $1B annualized revenue in September 2026 (not a company disclosure). Sacra (opens in new tab)
- 30 Jun 2026 · Alibaba (Qwen): AI-related product revenue: 12th straight quarter of triple-digit growth. Alibaba results (opens in new tab)
- 30 Jun 2026 · Alibaba (Qwen): AI Cloud & Compute Services revenue US$7.139B in the quarter (+45% YoY). Alibaba results (opens in new tab)
- 20 May 2026 · xAI (SpaceXAI): Lost $6.4B from operations on $3.2B revenue in 2025 (SpaceX S-1). TechCrunch (opens in new tab)
FAQ
Which AI company has the most revenue in 2026?
Anthropic, $67.2B (Q3 2026 revenue × 4 (computed; $16.8B quarter told to investors, gross accounting), as of 30 Sept 2026), ahead of OpenAI at $50B.
Is Anthropic's revenue directly comparable with OpenAI's?
Not exactly, because the bases differ. Anthropic: Q3 2026 revenue × 4 (computed; $16.8B quarter told to investors, gross accounting). OpenAI: annualized run-rate, end of September (net of partner share).
Which labs have no revenue figure?
Google DeepMind, Meta Superintelligence Labs, Z.ai (Zhipu) have no reliable public lab-level revenue figure, so they are left out rather than estimated.
What does "run-rate" mean here?
An annualized figure: the company's own annual run-rate, a quarter multiplied by 4 (marked "computed"), or a labelled third-party estimate (EST). The basis is shown next to every number.