OpenAI's quarterly operating loss tops $10.9 billion even as revenue jumps about 50%

OpenAI told investors on Tuesday that its operating loss in the third quarter topped $10.9 billion, up from $10.1 billion in the second quarter, the Wall Street Journal reported. Revenue grew by about 50% from the previous quarter, to roughly $10 billion, as reported earlier this week, but not enough to cover the company's costs, Futurism reported, citing the Journal.

The figures add detail to a picture of fast revenue growth on top of costs that are still larger than revenue. OpenAI began showing ads in ChatGPT in February and said in August that its ad business was on track for a $1 billion annual run rate. In October it put its annualized revenue at about $50 billion, which the Financial Times reported was $20 billion short of what it had told investors a month earlier.

The numbers arrive as both OpenAI and Anthropic prepare for public listings, which will bring more scrutiny of their finances. OpenAI has been pushing into enterprise sales, where Anthropic leads with its coding tools; its president said last week that most of OpenAI's revenue now comes from businesses. OpenAI has not published the figures itself.