OpenAI operating loss rises to $10.9B despite $10B revenue

OpenAI told investors that third-quarter revenue rose about 50% to $10 billion, while the maker of ChatGPT reported an operating loss of $10.9 billion.

Documents seen by the Wall Street Journal show OpenAI said its adjusted operating margin improved from negative 150 percent in the prior quarter to negative 109 percent.

The company said operating loss increased from $10.1 billion to $10.9 billion compared with the previous period.

OpenAI has not responded to media requests for clarification about these figures.

The disclosure comes as investors closely scrutinize financial statements of AI companies. One major rival, Anthropic, is preparing an initial public offering that could value the startup at about $1.4 trillion.

Anthropic's IPO plans and the potential valuation underscore strong investor appetite for AI, despite persistent concerns about business models and the high costs of developing the technology.

Years of heavy investment continue to funnel large amounts of capital into the AI sector, even as questions about profitability and development costs remain unresolved.