surprisetalkOpenAI closes funding round at an $852B valuation
https://openai.com/index/accelerating-the-next-phase-ai
https://www.cnbc.com/2026/03/31/openai-funding-round-ipo.html
$2b/month which is $24b/year. Not as much as I expected considering they were at $20b by end of 2025.[0] They only added $4b since?
Anthropic had $19b by end of February 2026 and they added $6b in February alone.[1] This means if they added another $6b in March, they're higher than OpenAI already.
However, I heard that OpenAI and Anthropic report revenue in a different way. OpenAI takes 20% of revenue from Azure sales and reports revenue on that 20%. Anthropic reports all revenue, including AWS's share.[2]
[0]https://www.reuters.com/business/openai-cfo-says-annualized-...
[1]https://finance.yahoo.com/news/anthropic-arr-surges-19-billi...
And that is revenue only. In the past 15 or so years most US companies (and especially startups) always talk about revenue only. Wheras only profit should matter.
E.g. what good is 20 billion per year when "OpenAI is targeting roughly $600 billion in total compute spending through 2030". That is $150 billion per year?
Give me a billion and I'll have 500M of revenue in no time by selling dollars at 50 cents.
Why are we treating OpenAI and Anthropic differently than say, Amazon or Uber? Both companies invested in growth for many years before making a profit. Most tech companies in the last 2-3 decades lost money for years before making a profit.
Why are we saying that OpenAI and Anthropic can't do the same?
Two reasons. They somewhat broke even, and kept getting investment. The potential for quasi monopoly was obvious.
Openai can't claim either.
How did Uber somewhat break even? They lost $34b before making a profit.
Uber was only on a path to monopoly in the US, not world wide. It’s lost to local competitors in most countries. And it can get disrupted by self driving cars soon.
OpenAI’s SOTA LLM training smells like a natural monopoly or duopoly to me. The cost to train the smartest models keep increasing. Most competitors will bow out as they do not have the revenue to keep competing. You can already see this with a few labs looking for a niche instead of competing head on with Anthropic and OpenAI.