OpenAI Q3 revenue soars nearly 50% to US$10 billion
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OpenAI has regained momentum with competitive new AI models, aggressive price cuts and a greater focus on AI agents to help customers automate work.
PHOTO: REUTERS
- OpenAI’s Q3 revenue hit US$10 billion for the first time, up nearly 50% from the previous quarter and almost three times a year earlier, driven by demand for new AI software.
- The ChatGPT maker has regained momentum with new models, lower prices and AI agents that help customers automate work, while Anthropic’s growth has slowed.
- OpenAI is raising funds at a US$1.25 trillion valuation and has delayed any public listing until 2027, as rival Anthropic targets a US$1.4 trillion debut.
AI generated
NEW YORK – OpenAI’s quarterly revenue hit US$10 billion (S$12.8 billion) for the first time in the three months ending in September, according to a person familiar with the matter, driven by strong demand for its latest artificial intelligence software.
The ChatGPT maker’s revenue increased nearly 50% from the prior quarter and nearly threefold from the same period a year earlier, said the person, who spoke on condition of anonymity as the information is not public. The financial details were shared with investors during a call on Nov 10.
OpenAI declined to comment.
After slipping behind long-time rival Anthropic in 2026 by some measures, OpenAI has regained momentum with competitive new AI models, aggressive price cuts and a greater focus on AI agents to help customers automate work. OpenAI’s business has shown signs of accelerating at a moment when Anthropic’s revenue growth has begun to slow somewhat.
Anthropic, which is nearing a landmark Wall Street debut, reported third-quarter revenue of about US$17 billion. The rate of growth from the second quarter slowed to around 47%, compared with a more than 140% increase in the previous quarter. (OpenAI and Anthropic have historically calculated revenue figures differently.)
OpenAI is in the process of completing a new round of funding at a US$1.25 trillion valuation after delaying plans to go public until 2027. OpenAI recently completed an initial US$11 billion part of that round, Bloomberg News previously reported.
Anthropic is targeting a US$1.4 trillion valuation for its public listing later in November.
The Information earlier reported OpenAI’s third-quarter revenue. BLOOMBERG