OpenAI revenue jumps nearly 50% to $10 billion, but still trails Anthropic and spends more than it earns

In brief

• OpenAI's third-quarter revenue rose about 50% from the prior quarter to $10 billion.
• The adjusted operating loss widened to $10.9 billion, though the operating margin improved to minus 109%.
• Paying ChatGPT subscribers reached about 100 million, and corporate sales doubled during the quarter.
• OpenAI still trails Anthropic despite faster growth.

Revenue growth accelerates after a slower first half

OpenAI, the company behind ChatGPT, reported that revenue in the third quarter rose roughly 50% from the second quarter to $10 billion (Tržby OpenAI prudko rastú. Tvorca ChatGPT však naďalej prehlbuje prevádzkovú stratu – HNonline.sk) (Выручка OpenAI выросла почти на 50%, но компания по-прежнему отстает от Anthropic — и тратит больше, чем зарабатывает – The Bell). The growth followed a weak stretch: revenue in the second quarter had increased only 18%, to $6.7 billion. The company disclosed the figures on a closed call with investors that included president Greg Brockman, chief financial officer Sarah Friar and product executive Thibault Sottiaux.

Corporate clients drive the rebound

Friar attributed the acceleration to new AI models and a fast-growing business segment. Sales to businesses doubled during the quarter, and corporate customers now bring in about as much money as ordinary users.

Losses remain large

Despite the faster revenue growth, OpenAI's adjusted operating loss grew to $10.9 billion in the third quarter from $10.1 billion in the previous quarter. Its adjusted operating margin improved to minus 109% from minus 150%, because revenue grew faster than losses. The company spends more than it earns, though by a smaller proportion than before.

Subscribers and advertising

The number of paying ChatGPT subscribers reached about 100 million, or 8.5% of weekly active users. OpenAI introduced advertising inside ChatGPT earlier this year, and investors were told it expects the ads to improve margins.

Trailing Anthropic

Despite the gains, OpenAI remains behind its rival Anthropic, which develops the Claude language model. The results were reported by The Wall Street Journal and Bloomberg.