Google DeepMind vs OpenAI: Revenue, Profit and Business Model
Google DeepMind reported ~$2B of revenue in FY2023 and — of net income. OpenAI reported $20B of revenue in FY2025 and — of net income.
Latest financial snapshot
Google DeepMind
- Latest revenue
- ~$2B (FY2023)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- +22.8% a year, FY2020–FY2023
OpenAI
- Latest revenue
- $20B (FY2025)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- +216.2% a year, FY2023–FY2025
Financial summary
Google DeepMind
Alphabet does not report Google DeepMind separately. The best public data comes from DeepMind Technologies Limited's UK accounts, which show revenue, mostly R&D fees charged to other Alphabet companies, rising from ~$1.09 billion (£826 million) in 2020 to ~$1.8 billion (£1.365 billion) in 2021, dipping to ~$1.43 billion (£1.081 billion) in 2022 and reaching about $2.02 billion (£1.53 billion) in 2023, with pre-tax profit of ~$196 million (£148.4 million) that year. These numbers measure Alphabet's internal funding of the lab rather than the commercial value of Gemini, which Google earns through Search, subscriptions and Cloud.
OpenAI
OpenAI reports revenue as annualized run rate rather than audited GAAP figures. The company says it reached $1 billion of revenue within a year of launching ChatGPT, was generating about $1 billion per quarter by the end of 2024, and passed $20 billion of annualized revenue by the end of 2025. Axios reported the run rate was nearing $70 billion at the end of September 2026. Funding has scaled alongside: $110 billion announced in February 2026 at a $730 billion pre-money valuation grew to $122 billion committed at $852 billion post-money by March 31, 2026, anchored by Amazon, Nvidia and SoftBank. An employee tender of about $7 billion followed in August 2026 at the same valuation. The company remains unprofitable because compute spending outpaces revenue.
Revenue and profit by year
Google DeepMind
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2023 | ~$2B | — | 0.0% | +41.6% | Source |
| FY2022 | ~$1.4B | — | 0.0% | -20.8% | Source |
| FY2021 | ~$1.8B | — | 0.0% | +65.3% | Source |
| FY2020 | ~$1.1B | — | 0.0% | — | Source |
OpenAI
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $20B | — | 0.0% | +400.0% | Source |
| FY2024 | $4B | — | 0.0% | +100.0% | Source |
| FY2023 | $2B | — | 0.0% | — | Source |
Where the revenue comes from
Google DeepMind
- R&D services to Alphabet companies
DeepMind Technologies Limited's reported revenue comes mainly from research and development services billed to other Alphabet group companies.
- Gemini in Google products (booked by Google)
Search ads supported by AI Overviews and AI Mode, Gemini app and Google One AI subscriptions, Workspace, and Gemini APIs on Google Cloud. Alphabet does not disclose how much of this is attributable to Google DeepMind.
OpenAI
- ChatGPT SubscriptionsMajor
Consumer, team, business, education, and enterprise subscriptions.
- API UsageMajor
Usage-based developer and enterprise model access through OpenAI APIs.
- Enterprise PlatformGrowing
Business deployments, governance, custom workflows, and platform services.
- Partnerships and LicensingEmerging
Strategic licensing, infrastructure partnerships, commerce, and outcome-based AI workflows.
Business model and strategy
Google DeepMind
How it makes money
Google DeepMind does not sell products under its own name. It is a cost center inside Alphabet that builds the models Google monetizes: Gemini powers AI Overviews and AI Mode in Search (supporting ad revenue), the Gemini app and Google One AI subscriptions, Gemini for Workspace, and pay-per-token Gemini APIs on Google AI Studio and Vertex AI in Google Cloud.
Growth strategy
The lab's priority is staying at the frontier with Gemini, including Gemini 3 and the Gemini 4 generation Hassabis mentioned in August 2026, while pushing Flash models and Gemma open models to developers. Under Koray Kavukcuoglu it is more tightly tied to Google's product teams, with Hassabis focusing on AGI strategy and Isomorphic Labs' drug discovery work.
Competitive advantage
Google DeepMind's main edge is the full Google stack around it: in-house TPU chips, Google Cloud, and distribution through Search, Android, YouTube and Workspace. It also has a deep research bench and a record of scientific results, from AlphaGo to the Nobel-winning AlphaFold, that few rivals can match.
OpenAI
How it makes money
OpenAI earns revenue in three main ways. First, ChatGPT subscriptions: consumer tiers such as Plus and Pro, plus Business, Enterprise and Edu seats sold to organizations. Second, the API platform, where developers and companies pay per token to build OpenAI models (GPT, reasoning, image, audio and embeddings) into their own software.
Growth strategy
OpenAI is growing on four fronts: selling ChatGPT and Codex into enterprises, turning ChatGPT into a broader 'super app' with agents, shopping and apps inside the chat, building its own compute through the Stargate data center program and chip partnerships, and moving into hardware through the 2025 acquisition of Jony Ive's io.
Competitive advantage
OpenAI's advantage is distribution plus scale. ChatGPT is the most widely used AI assistant, with OpenAI citing more than 900 million weekly users in February 2026, which gives it a direct consumer channel that rivals have to buy or build.
Questions about Google DeepMind vs OpenAI
Which company has higher revenue — Google DeepMind or OpenAI?
Google DeepMind reported ~$2B (FY2023), while OpenAI reported $20.0B (FY2025). By last reported revenue, OpenAI is the larger business, with Google DeepMind reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
Which is more financially efficient — Google DeepMind or OpenAI?
OpenAI generates $4.44M / employee in revenue per employee. A comparable figure for Google DeepMind requires matching employee and revenue data from the same reporting period.
How do Google DeepMind and OpenAI make money?
Google DeepMind and OpenAI generate revenue in fundamentally different ways. Google DeepMind: Google DeepMind does not sell products under its own name. OpenAI: OpenAI earns revenue in three main ways.
Is Google DeepMind bigger than OpenAI?
By last reported revenue, OpenAI ($20.0B (FY2025)) is the larger company compared to Google DeepMind (~$2B (FY2023)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Google DeepMind vs OpenAI overview