OpenAI’s revenue reached $10 billion in the third quarter, the company’s first quarter at that level, rising nearly 50% from the prior quarter, Chief Financial Officer Sarah Friar told Yahoo Finance on Tuesday. Friar put the annualized revenue run rate at roughly $50 billion.
Quartz, citing Bloomberg, reported that the ChatGPT maker’s operating loss for the three months ended in September was $10.9 billion, and that its adjusted operating margin improved to -109% from -150% in the second quarter. Bloomberg also said revenue was nearly three times the year-earlier level, and that President Greg Brockman and Friar presented the figures to investors on a Tuesday call. OpenAI declined to comment to Bloomberg, Quartz reported. Yahoo Finance noted that the 50% quarter-over-quarter increase was faster than the 18% growth the company saw in the second quarter, according to the Wall Street Journal.
“Q3 was a blockbuster quarter for us,” Friar said in a Yahoo Finance interview, adding that annualized revenue “grew 70% quarter over quarter” and that the company “exited close to about 50 billion in ARR.” She said growth was driven by frontier research — including a model she identified as 5.6 early in the quarter and the September launch of Astro — and by the enterprise business, which “doubled quarter over quarter” and now accounts for about half of revenue, alongside the consumer business. “What’s driving that is products like Coding, Cyber, starting to get more virtual assistants like Dots into the enterprise,” she said. Dots, Yahoo Finance said, is OpenAI’s enterprise AI-agent platform. Friar said the small- and medium-business offering grew more in the third quarter than in the prior six quarters, that consumer sales rose 20% quarter over quarter, that subscriptions topped 100 million users, and that the company has 1.2 billion weekly active users.
The figures arrive as Anthropic, which has no consumer business, is preparing a public offering. Yahoo Finance said Anthropic’s revenue grew to $33.2 billion through the first nine months of the year; Quartz, citing Bloomberg, put Anthropic’s third-quarter revenue at roughly $17 billion, with growth slowing to about 47% from the second quarter. Those figures are in line with Anthropic’s amended IPO disclosures reported earlier. Friar told Yahoo Finance that Anthropic’s enterprise distribution has shown OpenAI it needs more third-party cloud agreements after being “really stuck” on its Microsoft Azure contract, which she said could be “a very big tailwind in 2027.” Quartz noted that the two companies have historically used different methods to count revenue, and that a roughly $50 billion annualized figure fell short of a $68 billion number that had been widely cited because that higher figure included gross revenue from partners.