A report by the Rhodium research group reveals that US AI companies OpenAI and Anthropic generate revenues ten times greater than all Chinese AI models combined, despite the increasing adoption of AI technologies in China.

According to Rhodium estimates, the total annual recurring revenue of all major Chinese companies is only about 10% of the combined revenue of OpenAI and Anthropic, even with the rapid adoption of Chinese AI systems domestically. This highlights a significant gap between the scale of usage and the actual financial returns.

DeepSeek recorded the lowest annual recurring revenue among major Chinese companies at $500 million, followed by MiniMax at $800 million, and Moonshot at $1 billion.

Z.ai reported to investors that its annual recurring revenue was $1.8 billion and is expected to reach $3 billion by the end of the year.

In contrast, the report indicated that OpenAI alone generated approximately $40 billion in annual recurring revenue, while Anthropic's revenue reached around $65 billion, according to Rhodium estimates.