OpenAI quarterly revenue tops $10 billion for the first time, up ~50% in one quarter
What happened
OpenAI told investors on a call on Tuesday, November 10 that its third-quarter revenue topped $10 billion for the first time, up nearly 50% from $6.7 billion in the second quarter and almost triple the year-earlier level, according to reports by Bloomberg, The Wall Street Journal and The Information. The figures put OpenAI's annual revenue run rate at roughly $50 billion. CFO Sarah Friar called it a 'blockbuster quarter,' saying enterprise revenue doubled quarter over quarter and now roughly equals consumer revenue, driven by coding tool Codex — now its largest revenue source — cybersecurity and its enterprise agent platform Dots. However, OpenAI's operating loss widened to $10.9 billion from $10.1 billion in Q2, though its adjusted operating margin improved to -109% from -150%.
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Start your free 14-day trialWho’s affected
- Microsoft (MSFT) — OpenAI's largest partner/investor
- OpenAI's commercial momentum supports the Azure AI thesis but its $10.9B quarterly loss underscores the cost of the AI buildout. Nvidia (NVDA) and AI chip/infrastructure names (Broadcom, Micron, CoreWeave) — $50B run-rate demand validates AI infrastructure spending. Anthropic IPO comparables — the revenue/loss gap between the two labs frames pricing for the expected $1.4T IPO. Alphabet (GOOGL) — Gemini competes directly with ChatGPT/Codex.