OpenAI Q3 revenue soars nearly 50% to US$10 billion
It is up nearly 50% from the previous quarter and almost three times a year earlier.
OpenAI reported a staggering US$10 billion (S$12.8 billion) in revenue for the third quarter ending in September, marking a remarkable 50% increase from the previous quarter and nearly three times the revenue from the same period a year ago, according to a person familiar with the company's financials. This surge in revenue comes after OpenAI has recently gained traction with new AI models, competitive pricing, and a stronger emphasis on AI agents to automate tasks for customers.
The company's recent financial results, shared with investors during a call on November 10, indicate a resurgence in its business performance as it tries to catch up with its long-standing rival, Anthropic. OpenAI's revenue growth outpaced Anthropic's, which reported a slower third-quarter revenue growth of around 47%, from the second quarter.
Both companies have been navigating the competitive landscape in the AI sector, with OpenAI nearing a significant funding round at a valuation of US$1.25 trillion, while Anthropic is aiming for a US$1.4 trillion valuation for its public listing later in November.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- OpenAI’s third-quarter revenue soars nearly 50% to US$10 billion businesstimes.com.sg
- Source: OpenAI told investors on Tuesday that its revenue jumped 50% to around $10B in Q3, up from 17% growth in Q2 (The Information) theinformation.com
- OpenAI posts steep losses even as quarterly revenue rises to $10 billion, WSJ reports economictimes.indiatimes.com
- OpenAI Q3 revenue climbs to $10b as costs remain high techinasia.com
- OpenAI posts steep losses even as quarterly revenue rises to $10 billion, WSJ reports channelnewsasia.com
