Anthropic has passed OpenAI on revenue for the first time in the AI race. OpenAI told investors it grew 18 percent from the first to the second quarter, while Anthropic doubled its revenue over the same stretch. That disappointed some shareholders, the Wall Street Journal reports.

OpenAI's revenue rose to $6.7 billion in the quarter ending in June, up from $5.7 billion in the first quarter. Its operating margin slipped further into the red, keeping the company out of profit ahead of an expected IPO. Anthropic hit $11.6 billion and posted a small operating profit. Year over year, Anthropic says it has grown its annualized revenue rate sevenfold to $65 billion.

Slower growth at ChatGPT and the success of Anthropic's coding tool Claude Code are putting pressure on OpenAI. Anthropic also earns far more per use from its Claude models, according to Vercel. OpenAI says growth picked up again after GPT-5.6 launched in July.