We report the effect of annealing, both electrical and by applied voltage, on the electrical conductivity of fibers spun from carbon nanotubes (CNTs). Commercial CNT fibers were used as part of a larger goal to better understand the factors that go into making a better electrical conductor from CNT fibers. A study of thermal annealing in a vacuum up to 800 °C was performed on smaller fiber sections along with a separate analysis of voltage annealing up to 7 VDC; both exhibited a sweet spot in the process as determined by a combination of a two-point probe measurement with a nanoprobe, resonant Raman spectroscopy, and X-ray photoelectron spectroscopy (XPS). Scaled-up tests were then performed in order to translate these results into bulk samples inside a tube furnace, with similar results that indicate the potential for an optimized method of achieving a better conductor sample made from CNT fibers. The results also help to determine the surface effects that need to be overcome in order to achieve this.