Credit: Camilo Concha / Shutterstock.com OpenAI’s revenue reached $10bn in the third quarter, up almost 50% from the second, The Information reported. OpenAI shared the figures with investors on Tuesday. Demand for its newer models and enterprise products had picked up, Valida Pau and Jemima McEvoy wrote, citing a person familiar with the matter. It is the first quarter in which OpenAI’s revenue has reached $10bn, Bloomberg reported, citing people familiar with the matter.
Revenue was almost three times its level a year earlier, they said. OpenAI declined to comment to Bloomberg. Losses still growing The Wall Street Journal’s Berber Jin saw documents on the results. They show OpenAI’s adjusted operating margin improved to -109% in the third quarter, from -150% in the second.
Its adjusted operating loss still rose, to $10.9bn from $10.1bn. In the second quarter, OpenAI’s revenue grew 18% to $6.7bn, the Journal reported at the time. That left it behind Anthropic on quarterly revenue for the first time. What drove the jump Greg Brockman, OpenAI’s president, spoke on the investor call.
So did Sarah Friar, its chief financial officer, and product leader Thibault Sottiaux, Bloomberg’s Rachel Metz and Rebecca Torrence reported. OpenAI revenue has regained momentum thanks to new models, aggressive price cuts and a bigger push into AI agents, according to Bloomberg. The company told investors it ended September with roughly $50bn in annualised revenue. That matches the $50bn run rate reported in October.
How it compares with Anthropic Anthropic reported $16.96bn in revenue for the same quarter. It first disclosed it in its IPO filing on 2 November. Its operating loss was $567m, and its adjusted operating margin was 15%. Anthropic’s growth has slowed.
Its revenue rose about 47% from the second quarter to the third. It had jumped 144% the quarter before, its filing shows. The two companies count revenue differently. Anthropic includes sales made through its cloud partners, while OpenAI counts only its share of some partner sales, TechCrunch noted.
Anthropic’s IPO is reportedly oversubscribed, and it is due to price on 18 November. OpenAI is completing a funding round at a $1.25tn valuation, Bloomberg reported. It has delayed its own listing until next year. Get the TNW newsletter ✕ Close Get the TNW newsletter Get the most important tech news in your inbox each week.
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