OpenAI's revenue is up nearly 50%, but the company still lags Anthropic — and spends more than it earns.
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OpenAI's revenues in the third quarter grew by almost 50% compared to the previous quarter and reached $10 billion for the first time, the Wall Street Journal reports. The company disclosed the results in a closed call with investors, in which the president of OpenAI, Greg Brockman, the CFO Sarah Friar and one of the heads of the product line, Tibo Sotio, participated, Bloomberg clarifies.
Growth accelerated after a relatively weak first half of the year: in the second quarter, OpenAI's revenues increased only 18% to $6.7 billion. Friar attributed the breakthrough to new AI models and growth in the enterprise segment: sales to businesses doubled in the quarter, and enterprise customers now bring as much money into the company as regular users.
The paid audience also grew slightly: the number of ChatGPT subscribers approached 100 million. This is 8.5% of the users of the service at least once a week (about 1.2 billion people).
However, expenses still exceed income. OpenAI's adjusted operating loss for the quarter increased from $10.1 billion to $10.9 billion. Operating profit did improve, from 150% to 109%, thanks to higher sales. That calculation does not include employee stock payments: In the third quarter, they totaled an additional $2.6 billion, the source told the WSJ.
who is in front
OpenAI is still significantly inferior to its main competitor -. Anthropic, although this time it was a little early in terms of pace. According to its updated IPO prospectus, Anthropic's quarterly revenue reached nearly $17 billion. This is an increase of 47% compared to the second quarter, but the company's revenues increased by 144% in the previous quarter. In addition, Anthropic returned to an operating loss: it amounted to 567 million dollars against a profit of 974 million dollars in the second quarter.