FT报道OpenAI年化收入近500亿美元，低于投资者700亿预期
FT just reported OpenAI’s annualised revenue is nearing $50B, about $20B below t…
直接回应市场最关注的估值与营收数据争议，厘清统计口径差异，对判断行业格局有重要参考价值。
FT just reported OpenAI’s annualised revenue is nearing $50B, about $20B below the $70B figure investors had circulated.
《金融时报》刚刚报道，OpenAI 的年化收入已接近 500 亿美元，比投资者此前流传的 700 亿美元低了约 200 亿美元。
Anthropic and OpenAI count revenue differently, since Anthropic includes money from customers who buy its models through AWS and Google Cloud, while OpenAI leaves that money out.
Anthropic 和 OpenAI 对收入的计算方式不同，因为 Anthropic 将客户通过 AWS 和 Google Cloud 购买其模型所支付的资金计入收入，而 OpenAI 则未将这些资金计入。
To compare the 2 companies fairly, OpenAI’s investors added their own estimate of those cloud sales to OpenAI’s July figure, which turned roughly $30B into about $40B.
为了公平比较这两家公司，OpenAI 的投资者将其对云销售额的估算值加到了 OpenAI 7 月的数据中，这使得原本约 300 亿美元的数字变成了约 400 亿美元。
OpenAI then told investors its annualised revenue had grown more than 70% since July, and investors applied that growth to their adjusted $40B figure, which gave them about $70B.
随后，OpenAI 告知投资者，自 7 月以来其年化收入增长了超过 70%，投资者便将该增长率应用于他们调整后的 400 亿美元数字，从而得出约 700 亿美元的结果。
OpenAI’s 70% growth was measured from its own July figure of about $30B, so the correct September number is just under $50B, and the extra $10B investors had added in July grew into a $20B overstatement.
OpenAI 的 70% 增长是与其自身 7 月约 300 亿美元的数据相比得出的，因此正确的 9 月数字应略低于 500 亿美元，而投资者在 7 月额外增加的 100 亿美元最终被放大为 200 亿美元的夸大数值。
Even at the lower figure, OpenAI’s annualised revenue still rose by about $20B between July and the end of September.
即使按较低的数值计算，OpenAI 的年化收入在 7 月至 9 月底之间仍增长了约 200 亿美元。
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