AI Lab Metric Ledger Research Note

AI Lab Metric Ledger Research Note

Every AI-lab metric needs a company, metric name, value, unit, measurement period, as-of date, publication date, source, source type, status, scope, and limitation.

The status vocabulary should distinguish realized, annualized, committed, targeted, capacity, estimated, and inferred. A run-rate or annualized revenue figure is a pace at a point in time, not audited revenue for a completed year. Committed capital is not the same as cash received. Post-money valuation is the transaction's implied equity value after the financing, not revenue or cash.

OpenAI's March 31, 2025 announcement reported $40 billion of new funding at a $300 billion post-money valuation and 500 million weekly users. Its March 31, 2026 announcement reported $122 billion in committed capital at an $852 billion post-money valuation, more than 900 million weekly active users, more than 50 million subscribers, $2 billion in monthly revenue, and enterprise above 40 percent of revenue. These are company disclosures and should not be merged with unsupported episode estimates.

Anthropic's April 20, 2026 announcement reported run-rate revenue above $30 billion, more than 100,000 customers using Claude on Amazon Bedrock, and a commitment above $100 billion over ten years for AWS technologies and up to five gigawatts of capacity. Revenue pace, customer count, spending commitment, capacity ceiling, and deployment schedule are separate rows.

OpenAI's April 29, 2026 infrastructure post said it had surpassed ten gigawatts of secured infrastructure. The company described the milestone as capacity secured, not as a realized accounting cost or proof of utilization.

No public page should infer gross margin, net income, cash burn, unit cost, or return on infrastructure without a sourced numerator, denominator, period, and method.