OpenAI and Anthropic are scaling revenue fast while margins expand, a rare AI-compute signal
BenBajarin · x · 2026-07-27
- A thread argues that OpenAI and Anthropic are both seeing explosive revenue growth and sequential gross-margin expansion at the same time—a combination the author says is rare for companies scaling this fast.
- The chart in the post shows Anthropic’s recognized revenue rising to $15.7B H1E (with API-only margin above 80%), alongside gross-margin estimates improving from -94% in FY2024 to about 39% in FY2025 and roughly 60–70% in H1 2026E.
- The takeaway: each jump in model capability may be worth more to customers than it costs to deliver, and that gap may still be widening, with implications for the compute and memory stack.
Related event: OpenAI and Anthropic Hit Combined $120B ARR with Expanding Margins(2 posts)→
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