OpenAI’s quarterly revenue reportedly reached $10 billion

OpenAI generated about $10 billion in revenue during the three months ending in September, according to private figures shared with investors and described in multiple reports. The reported total marked the company’s first $10 billion quarter, up nearly 50% from the previous quarter.

Revenue was also reported at almost three times its level in the same period a year earlier. That comparison reflects money generated during the quarter, not annualized revenue run rate, which extrapolates recent sales over a full year. A November investor briefing put OpenAI’s annualized revenue run rate at approximately $50 billion at the end of September.

That growth did not make OpenAI profitable. Reports based on investor disclosures put the company’s operating loss at about $10.9 billion for the quarter. Its adjusted operating margin was reported at negative 109%, better than negative 150% in the previous quarter but still an indication that expenses exceeded revenue.

The figures also add financial context to OpenAI’s reported fundraising target. Revenue growth measures sales; operating profit or loss shows whether operating revenue exceeded operating expenses.

Because OpenAI is privately held, the quarterly revenue, loss and margin figures do not come from a public financial filing. The company has not released a quarterly financial statement or investor-call transcript establishing the accounting basis behind the reported numbers.