Business · Companies · 12 mins ago
OpenAI’s third-quarter revenue rose 50% to $10 billion
OpenAI’s third-quarter revenue rose about 50% to $10 billion, according to documents shared with investors.
The quarter covered July through September, and the revenue figure was higher than in the previous three months.
Its operating loss grew to $10.9 billion, up from $10.1 billion in the prior quarter, though its adjusted operating margin improved.
Revenue growth does not mean the company is making a profit, and concerns are growing about whether AI investment will pay off.
OpenAI recently raised $11 billion, well below its original $30 billion target, as investor interest in the AI industry cooled.
The company has postponed its planned public listing until next year.
OpenAI’s third-quarter revenue rose about 50% from the previous quarter to $10 billion, according to reports citing a document sent to investors.
Its operating loss widened to $10.9 billion from $10.1 billion in the previous quarter.
Reports differed on the previous quarter’s adjusted operating margin: Yonhap gave it as -130%, while Tech in Asia reported -150%; both said it improved to -109%.
OpenAI recently raised $11 billion, below its initial $30 billion target, as investor confidence in the AI industry cooled.
- Who
- OpenAI.
- What
- Third-quarter revenue rose about 50% from the previous quarter to $10 billion.
- When
- The third quarter, from July to September; the results were reported on November 10 local time.
- Where
- Not stated.
- Why
- Not stated.
This story does not have two clearly opposing sides.
OpenAI recorded third-quarter revenue of $10 billion.
Reports citing a document sent to investors disclosed OpenAI’s third-quarter revenue and operating loss.
- Third-quarter revenue
- $10 billion
- Revenue growth
- About 50% from the previous quarter
- Operating loss
- $10.9 billion, up from $10.1 billion in the previous quarter
- Adjusted operating margin
- -109%; sources gave differing figures for the previous quarter
- Recent fundraising
- $11 billion raised, below the initial $30 billion target
What people are saying
OpenAI's adjusted operating margin improved to -109% from -150% in the prior quarter.