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Technology

OpenAI Revenue Hits $10 Billion in Third Quarter as Operating Loss Widens to $10.9 Billion

OpenAI generated about $10 billion in revenue in the third quarter, up about 50% from the prior quarter, but its adjusted operating loss widened to $10.9 billion, according to investor documents reviewed by The Wall Street Journal.

By admin Nov. 11, 2026 · 12:47 PM ET 2 min read

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OpenAI generated about $10 billion in revenue in the third quarter, up about 50% from roughly $6.7 billion in the second quarter. It was the first quarter in which revenue crossed $10 billion, according to investor documents reviewed by The Wall Street Journal. The ChatGPT maker still lost money at a steep pace: its adjusted operating loss widened to $10.9 billion from $10.1 billion in the prior quarter.

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The adjusted operating margin improved to negative 109% from negative 150% in the prior quarter. The loss still exceeded revenue by $900 million. The figures come from documents OpenAI shared with investors, not from a public filing. OpenAI did not respond to a Reuters request for comment.

Enterprise sales doubled

Chief financial officer Sarah Friar told CNBC that enterprise revenue doubled from the second quarter to the third. Revenue is now split about evenly between the enterprise business and the consumer business. Friar tied the enterprise growth to demand for coding, cybersecurity and AI-powered help for businesses. The company’s agent product for businesses, Dots, was among the products she cited.

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Growth also spread beyond the largest customers. Friar said the small and medium-sized business segment grew faster in the third quarter than in any of the six quarters before it.

On the consumer side, sales rose about 20% from the second quarter. Paid subscriptions passed 100 million, and ChatGPT reached 1.2 billion weekly active users. The company put its annual revenue run rate at about $50 billion.

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A contrast with Anthropic

The numbers landed as investors look hard at whether fast-growing AI companies can turn sales into profit. Anthropic, the maker of Claude, reported third-quarter revenue of $17 billion and an operating loss of $567 million, according to reports cited by Storyboard18. Anthropic is preparing an initial public offering that could value the company at about $1.4 trillion, Reuters reported.

OpenAI’s revenue grew faster in the quarter, with sequential growth near 50% against 18% in the second quarter, according to the Journal’s report. Its loss was far larger in dollar terms than its rival’s.

Reporting based on coverage by Reuters and Storyboard18.

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