Anthropic Hits $17B as OpenAI Reaches $10B Revenue

OpenAI's revenue hit $10 billion in the third quarter, up roughly 50 percent from the previous quarter, according to reports from the Wall Street Journal and The Information. That's a jump from the 17 to 18 percent growth rate OpenAI posted in Q2, and more than double the $3.9 billion the company brought in during the same quarter last year. The growth came largely from enterprise customers and new model releases, with ChatGPT's consumer side now counting 100 million paying subscribers.

The losses grew too. OpenAI's adjusted operating loss climbed to $10.9 billion in Q3, up from $10.1 billion the quarter before, not counting the $2.6 billion in stock-based compensation. The operating margin did tick up, from negative 150 percent in Q2 to negative 109 percent in Q3, still far worse than the negative 97 percent recorded a year ago.

That widening gap between revenue and losses looks even starker next to Anthropic, which has already passed OpenAI in quarterly revenue and is heading into an IPO next week. The comparison between the two companies' balance sheets tells a different story about what it actually costs to grow at this pace.