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# OpenAI's quarterly revenue reportedly crosses $10 billion for the first time, but its losses keep growing
- URL: https://www.businessbagel.com/openai-quarterly-revenue-crosses-10-billion-losses-growing/
- Published: 2026-11-14T06:00:00.000Z
- Updated: 2026-11-14T05:59:59.000Z
- Description: Internal documents reported by Bloomberg and the WSJ show OpenAI's revenue up about 50% in a quarter, while its adjusted operating loss grew to about $10.9 billion.
- Author: Christian Maidman
- Tags: Companies, Business Bagel News

OpenAI's quarterly revenue has crossed $10 billion for the first time, according to reports by Bloomberg and The Wall Street Journal, which cite anonymous sources and internal documents. That would be an almost 50% jump from the $6.7 billion it reportedly made in the second quarter. Bloomberg also reports that the company has reached an annual revenue run rate of $50 billion. OpenAI didn't immediately respond to a request for comment, so the figures haven't been confirmed by the company.

## Businesses are now the biggest customers

Most of that growth has come from businesses. OpenAI president Greg Brockman said enterprise sales became the company's largest source of revenue in the third quarter, ahead of consumer subscriptions, with demand for its AI coding tools doing much of the work. CFO Sarah Friar has said the enterprise business doubled from the previous quarter, while consumer sales rose 20%. TechCrunch also points to tighter pricing, discounts, better models and a bigger focus on enterprise products and AI agents that can complete tasks for people.

## Still deep in the red

That growth still comes at an enormous cost. According to the WSJ, OpenAI's adjusted operating loss grew to about $10.9 billion in the quarter, from $10.1 billion the quarter before. But the loss is shrinking relative to sales: Bloomberg reports that its adjusted operating margin improved from -150% in the second quarter to -109% in the third. In other words, OpenAI is still spending far more than it makes, just a little less for every dollar it brings in.

The timing is interesting, too, with rival Anthropic preparing for its stock market listing. In its IPO filing, Anthropic reported third-quarter revenue of $16.96 billion, up 47% from the previous quarter, with an operating loss of $567 million. It also says its annual revenue run rate rose by $10 billion in a month, to $81 billion at the end of October. The numbers aren't directly comparable, though. OpenAI's are adjusted figures from internal documents, while Anthropic's come from a filing with the US Securities and Exchange Commission, and the two calculate annualised revenue differently.

OpenAI's own turn may not be far off. Friar told employees in August that the company will be a public company in 2027, according to CNBC. When it gets there, investors will be watching the gap between its revenue and its losses as closely as the revenue itself.