Charted: The Soaring Revenues of AI Companies (2023–2025)
November 25, 2025
By Niccolo Conte
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Key Takeaways- OpenAI’s annualized revenue surged to $13 billion by August 2025, up from $200 million in early 2023.
- Anthropic’s annualized revenue climbed from $87 million in early 2024 to $7 billion in 2025.
- xAI remains the smallest of the three but grew rapidly, reaching $500 million in annualized revenue in 2025.
The AI boom continues to reshape the technology landscape, which is evident in the explosive revenue growth of the world’s leading AI companies.
Increasing usage among consumers, along with enterprise adoption and new product offerings, have all fueled revenue growth for AI leaders.
This infographic shows how the annualized revenues of OpenAI, Anthropic, and xAI have scaled over the past two years using estimates from Epoch.ai.
How Fast Are AI Company Revenues Growing?
Between 2023 and 2025, revenues for AI model developers grew at an accelerated pace. The table below shows the latest disclosed or reported revenue figures for each AI company:
Company
Date
Annualized revenue (USD)
|
| Anthropic | 2024-01-01 | $87,000,000 | | Anthropic | 2024-12-31 | $1,000,000,000 | | Anthropic | 2025-03-01 | $1,400,000,000 | | Anthropic | 2025-03-31 | $2,000,000,000 | | Anthropic | 2025-05-30 | $3,000,000,000 | | Anthropic | 2025-07-01 | $4,000,000,000 | | Anthropic | 2025-07-29 | $5,000,000,000 | | Anthropic | 2025-10-21 | $7,000,000,000 | | OpenAI | 2023-03-01 | $200,000,000 | | OpenAI | 2023-08-29 | $1,000,000,000 |
OpenAI saw the steepest rise, jumping from $200 million in early 2023 to $13 billion in annualized revenue by August 2025. The majority of OpenAI’s revenue comes from consumers and the increasing usage of ChatGPT.
Anthropic’s revenue trajectory is similarly dramatic, growing from just $87 million in annualized revenue at the start of 2024 to $7 billion by late 2025, marking an 80-fold increase. Estimates suggest that 70-80% of Anthropic’s revenue is from enterprise customers.
Elon Musk’s xAI, founded in 2023, is much earlier in its growth curve. However, with annualized revenues jumping from $100 million in late 2024 to $500 million by mid-2025, xAI is becoming a notable name in the industry. XAI also has the world’s most powerful AI supercomputer.
The Race to Monetize AI
As generative AI becomes embedded across industries, AI model developers are capturing new revenue streams.
OpenAI and Anthropic are racing to scale infrastructure, model capabilities, and enterprise integration tools, while xAI continues to expand its developer ecosystem and along with new versions of its model Grok.
If revenue trajectories continue on their current path, AI companies may soon mark one of the fastest industry expansions in recent history. |
