OpenAI Q3 Revenue Hits $10 Billion as Losses Widen to $10.9 Billion
OpenAI's quarterly revenue crossed $10 billion for the first time, up about 50% in a quarter, while its operating loss widened to $10.9 billion.
Image: Wikimedia Commons / Steve Jurvetson, CC BY 2.0
OpenAI told investors on Tuesday, November 10, that its revenue reached $10 billion in the third quarter of 2026, the first time the company has crossed that line in a single quarter, while its adjusted operating loss widened to $10.9 billion.
The figures, shared in a briefing led by president Greg Brockman and chief financial officer Sarah Friar, show revenue up about 50 percent from roughly $6.7 billion in the second quarter. A year earlier, OpenAI reported $3.9 billion in sales. The numbers come from its investor briefing, not a public filing, and OpenAI has not publicly confirmed them.
- Revenue hit $10 billion in the third quarter, up about 50 percent from $6.7 billion in the second quarter and nearly triple the $3.9 billion of a year earlier.
- The adjusted operating loss widened to $10.9 billion from $10.1 billion, though the margin improved to minus 109 percent from minus 150 percent.
- The annualised revenue run rate reached about $50 billion at the end of September.
- Anthropic reported $17 billion in revenue with a $567 million loss, though the two firms count revenue differently.
OpenAI Q3 2026 Revenue and Losses: Full Breakdown
Enterprise sales drove the jump. Friar told investors that enterprise revenue doubled in the quarter and now roughly matches consumer revenue, a sharp change from the second quarter, when revenue rose by only 17 to 18 percent.
The loss side moved with revenue. The adjusted operating loss rose from $10.1 billion to $10.9 billion, excluding $2.6 billion of stock-based compensation. The margin improved because revenue grew faster than the loss: at minus 109 percent, each dollar of revenue still carried about $1.09 of adjusted operating loss.
How OpenAI Compares With Anthropic on Revenue and Profit
Anthropic, the maker of Claude, reported $17 billion in third-quarter revenue, up 47 percent from the second quarter, and an operating loss of $567 million that includes stock-based compensation. It disclosed the figures in an amended filing with the U.S. Securities and Exchange Commission.
The comparison needs a caution. Anthropic counts sales made through cloud partners, while OpenAI counts only its share of some partner sales, so the two totals are not measured on the same basis. Even so, the gap is wide: Anthropic lost $567 million on $17 billion of revenue, while OpenAI lost $10.9 billion on $10 billion.
Anthropic moved ahead of OpenAI on quarterly revenue in the second quarter. Its listing will give investors their first audited look at the rival's books, while OpenAI raised $11 billion in a funding round that valued it at $1.25 trillion.
| Metric | OpenAI Q2 2026 | OpenAI Q3 2026 | Anthropic Q3 2026 |
|---|---|---|---|
| Revenue | $6.7 billion | $10 billion | $17 billion |
| Quarterly growth | 17-18% | About 50% | 47% |
| Operating loss | $10.1 billion | $10.9 billion* | $567 million |
| Operating margin | Minus 150% | Minus 109% | Not disclosed |
* OpenAI's figure is adjusted; it excludes $2.6 billion of stock-based compensation, which Anthropic's loss includes.
Why OpenAI's Losses Keep Growing Despite Record Revenue
The short answer is computing power. Training and running frontier models needs vast amounts of chips, energy and data-centre capacity, and OpenAI is spending heavily to stay ahead of rivals. The numbers landed in a week when investors were already questioning the cost of the AI buildout: AI stocks fell on Tuesday after hot inflation data, then rebounded on Wednesday after strong results from CoreWeave lifted the sector.
Frequently Asked Questions
How much revenue did OpenAI make in the third quarter of 2026?
OpenAI made $10 billion in revenue in the three months to September 2026, the first time it has crossed that mark in a single quarter. Revenue rose about 50 percent from $6.7 billion in the second quarter and nearly tripled from $3.9 billion a year earlier.
How much money did OpenAI lose in Q3 2026?
OpenAI reported an adjusted operating loss of $10.9 billion, up from $10.1 billion in the second quarter. The figure excludes $2.6 billion of stock-based compensation, and the margin improved to minus 109 percent from minus 150 percent.
Is OpenAI profitable?
No. OpenAI is not profitable. Its adjusted operating loss of $10.9 billion exceeded its $10 billion of revenue, and the loss excludes $2.6 billion of stock-based compensation. The company is private and shares its figures with investors.
Anthropic is scheduled to make its Nasdaq debut between November 19 and 20, when its listing documents will put audited figures beside OpenAI's investor briefing. OpenAI has not said when it will next update investors.
