Revenue leaderboard
Anthropic has the highest revenue figure, $67.2B (Q3 2026 revenue × 4 (computed; $16.8B quarter told to investors, gross accounting), as of 30 Sept 2026).
| Rank | Lab | Revenue run-rate | Basis | As of | Source | Claimed (not scored) |
|---|---|---|---|---|---|---|
| 1 | Anthropic | $67.2B | 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) | n/a |
| 2 | OpenAI | $50B | annualized run-rate, end of September (net of partner share) | 30 Sept 2026 | Axios (opens in new tab) | $70B not scored |
| 3 | xAI (SpaceXAI) | $30.2B | 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) | n/a |
| 4 | Alibaba (Qwen) | $7.3B | AI-related product revenue, June quarter × 4 (computed; parent-segment metric) | 30 Jun 2026 | Alibaba June Quarter 2026 results (opens in new tab) | n/a |
| 5 | Mistral AI | $1B | ARR, 'slightly above $1B' per CFO | 8 Sept 2026 | WSJ (opens in new tab) | n/a |
| 5 | DeepSeek | $1B EST | annualized revenue, September (third-party estimate) | 30 Sept 2026 | Sacra (estimate) (opens in new tab) | n/a |
| 5 | Moonshot AI (Kimi) | $1B | ARR (current, per Bloomberg) | 6 Oct 2026 | Silicon Republic (Bloomberg) (opens in new tab) | $2B not scored |
EST = third-party estimate, not a company figure.
No reliable public figure
- Google DeepMind: This is a division of a public company. Alphabet does not disclose lab-level revenue or valuation, so those score components are excluded and the remaining weights are rescaled.
- Meta Superintelligence Labs: This is a division of a public company. Lab-level revenue and valuation are not disclosed.
- Z.ai (Zhipu): No sourced financials gathered yet. Only model and odds components are scored.
FAQ
Which lab leads revenue run-rate?
Anthropic, at $67.2B.
Where does this number come from?
Why isn't every lab listed?
Google DeepMind, Meta Superintelligence Labs, Z.ai (Zhipu) have no reliable public figure for this metric, so they are left out rather than estimated.