OpenAI’s revenue hits $10 billion, but its losses are still staggering at $10.9 billion

OpenAI’s revenue rose to $10 billion in the third quarter, up roughly 50% from the second quarter. But the company continued to report heavy operating losses, with its adjusted operating loss rising slightly from $10.1 billion to $10.9 billion, The Wall street reported on Tuesday.

The company shared its latest results with investors on Tuesday, as rival Anthropic prepared to mount its much-anticipated IPO next week. The numbers show that OpenAI is accelerating revenue growth but still has a long way to go to match Anthropic’s sales and operating efficiency.

OpenAI’s revenue grew by roughly 50% from the second to the third quarter, reaching $10 billion.

The growth was much faster than in the previous quarter. OpenAI’s revenue had grown by only 18% in the second quarter compared with the first quarter, The Wall Street Journal previously reported.

Anthropic, the maker of Claude, recently disclosed that its revenue rose to $17 billion in the third quarter. It also reported a smaller operating loss of $567 million during that period.

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The latest figures show OpenAI’s revenue growth picking up sharply, while Anthropic has reported higher sales and a smaller operating loss.

OpenAI told investors on Tuesday that its adjusted operating margin improved from -150% in the second quarter to -109% in the third quarter, according to documents viewed by The Wall Street Journal.

However, the improvement in its adjusted operating margin came even as its adjusted operating loss increased slightly.

The company’s adjusted operating loss rose from $10.1 billion in the second quarter to $10.9 billion in the third quarter, based on those figures.

OpenAI’s latest results come as Anthropic prepares for its much-anticipated IPO next week. Anthropic recently disclosed its third-quarter revenue and operating loss, giving investors a fresh look at the financial performance of the two AI companies.

OpenAI’s revenue growth has accelerated from the previous quarter, but the company continues to report heavy operating losses and remains far from profitability.