The Innovation Investor(@OceanusResearch):OpenAI’s own figure to investors was approaching $50 billion at the end of September, counted its way: Azure resale booked net, only OpenAI’s cut. Investors then added the estimated cloud-partner revenue so the total could be lined up with Anthropic, which books the full customer bill through AWS and Google and treats the platform fee as a cost. That add was about $20 billion, which is how the late-September reports got to roughly $70 billion.

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The Innovation Investor@OceanusResearch

2026.10.08 17:36

OpenAI’s own figure to investors was approaching $50 billion at the end of September, counted its way: Azure resale booked net, only OpenAI’s cut. Investors then added the estimated cloud-partner revenue so the total could be lined up with Anthropic, which books the full customer bill through AWS and Google and treats the platform fee as a cost. That add was about $20 billion, which is how the late-September reports got to roughly $70 billion.