OpenAI’s third-quarter revenue soars nearly 50% to US$10 billion
It is in the process of completing a new round of funding at a US$1.25 trillion valuation
OpenAI's third-quarter revenue surged nearly 50% to US$10 billion, marking its highest quarterly earnings ever, according to a source familiar with the financials. This growth was fueled by robust demand for the company's latest artificial intelligence software. The ChatGPT maker experienced a 50% increase from the previous quarter and nearly tripled compared to the same period a year ago.
OpenAI disclosed these financial details to investors during a call on Tuesday, November 10. The company, which was trailing behind Anthropic PBC in certain metrics earlier this year, has recently regained momentum through the launch of competitive AI models, aggressive price cuts, and a stronger emphasis on AI agents to automate tasks for customers.
OpenAI is currently in the process of completing a new funding round valued at US$1.25 trillion, having delayed its plans to go public until the following year. The funding round, of which the initial US$11 billion portion was reported by Bloomberg News, has been finalized by OpenAI.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 5 other outlets
- OpenAI Q3 revenue soars nearly 50% to US$10 billion straitstimes.com
- 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
