OpenAI topped $25 billion in annualized revenue as of the end of last month, according to a person familiar with the figure. That’s a 17% increase from the $21.4 billion in annualized revenue the company was generating at the end of the year, according to the person and a second person with knowledge of the figures.

OpenAI is still generating more revenue than its younger rival Anthropic, though the difference between the archrivals has been narrowing: Anthropic’s annualized revenue recently topped $19 billion, up nearly three times from the end of last year, and up 36% from just two weeks ago.