OpenAI’s quarterly revenue hit $10 billion for the first time in the three months ending in September, according to people familiar with the matter, driven by strong demand for its latest artificial intelligence software.
\n\nThe ChatGPT maker’s revenue increased nearly 50% from the prior quarter and almost threefold from the same period a year earlier, said the people, who asked not to be identified because the information isn’t public. The financial details were shared with investors during a call on Tuesday. OpenAI President Greg Brockman, Chief Financial Officer Sarah Friar and Thibault Sottiaux, a product leader at the company, spoke on the call, one of the people said.
\n\nFrom the second to third quarter, OpenAI’s adjusted operating margin narrowed to -109% from -150%, one of the people said.
\n\nThe company also told investors on the call that it ended September with roughly $50 billion in annualised revenue, the people said.
\n\nAfter slipping behind longtime rival Anthropic PBC this year by some measures, OpenAI has regained momentum with competitive new AI models, aggressive price cuts and a greater focus on AI agents to help customers automate work. OpenAI’s business has shown signs of accelerating at a moment when Anthropic’s revenue growth…
Original source: https://www.cnbctv18.com/technology/
