MoneySeptember 17, 2026via CNBC Technology
OpenAI and Anthropic are making 10 times more revenue than all Chinese AI models combined, research group Rhodium says
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.
Key signals
- OpenAI + 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
The hook
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.
Rhodium Group's latest analysis of Chinese and U.S. AI companies also found that low revenue did not necessarily correspond with lower valuation.