OpenAI and Anthropic are making 10 times more revenue than all Chinese AI models combined, research group Rhodium says
10x revenue gap. OpenAI and Anthropic are pulling in 10 times more than all Chinese AI models combined — and valuations don't match the math.
Why it matters
Market dominance data shows the U.S. frontier labs' revenue lead is widening despite China's aggressive buildout. A practitioner evaluating competitive risk or investment thesis gets hard numbers; an enthusiast tracking the U.S.–China AI race gets a major marker of who is winning the commercialization game.
The key facts
5 to knowOpenAI + Anthropic revenue = 10x all Chinese AI models combined
Source: Rhodium Group analysis
Published Sep 17, 2026
Finding: low revenue does not correlate with lower valuation in Chinese AI sector
Implication: valuation-to-revenue ratio divergence between U.S. and Chinese AI players
Go to the source
CNBC Technologycnbc.com
Publisher excerpt: Rhodium Group's latest analysis of Chinese and U.S. AI companies also found that low revenue did not necessarily correspond with lower valuation.