OpenAI's quarterly revenue crossed $10 billion for the first time in the third quarter, driven by strong demand for its recent AI models, Bloomberg reported, citing anonymous sources1.
The figure represents an almost 50% jump from the $6.7 billion in sales the company reportedly recorded in the second quarter. That marks a sharp acceleration from the roughly 18% sequential growth rate OpenAI posted between the first and second quarters, when revenue rose from $5.7 billion to $6.7 billion.
OpenAI's enterprise business reportedly doubled in a single quarter2. The company's adjusted operating margin also narrowed, moving from negative 150% in the second quarter to negative 109% in the third quarter, according to the Bloomberg report.
The reacceleration comes as OpenAI faces intensifying competition from Anthropic, which TechCrunch described as having taken the lead in capturing the enterprise market for AI models. Anthropic recently reported Q3 revenue of $17 billion. OpenAI says it has over a billion users, though TechCrunch noted it is reasonable to assume most are free users or subscribers to its cheapest plans.
ANALYSIS The near-50% sequential jump contrasts with the prior quarter's 18% growth, but the gap between OpenAI's $10 billion quarter and Anthropic's reported $17 billion quarter underscores the competitive pressure OpenAI faces in enterprise, even as its consumer base remains far larger.