OpenAI Earnings
OpenAI Q3 Revenue Hits $10 Billion as Enterprise Business Doubles
OpenAI's Q3 2026 revenue rose roughly 50% quarter‑over‑quarter to $10 billion, CFO Sarah Friar told investors. The enterprise business doubled, reaching a 50/50 revenue split with consumer, while operating losses widened to $10.9 billion. Anthropic's Q3 revenue came in at $17 billion with nearly identical growth rates, marking the first time the two AI labs are growing at the same pace.
$10 Billion in a Single Quarter
OpenAI's third‑quarter revenue reached $10 billion, up about 50% from $6.7 billion in the second quarter and nearly triple the year‑earlier figure, according to documents viewed by the 1 and reported by Reuters. The milestone marks the first time the company has hit a $10 billion quarterly revenue run, Bloomberg reported.
Enterprise Doubles, Hits 50/50 Split
CFO Sarah Friar called Q3 a “blockbuster quarter” in an interview with Yahoo Finance. “Our enterprise business doubled quarter over quarter,” she said, adding that revenue is now split 50/50 between enterprise and consumer. Consumer sales improved 20% quarter‑over‑quarter, and subscriptions topped 100 million users. Coding, cybersecurity, and virtual assistants drove enterprise adoption, with ChatGPT's weekly active users reaching 1.2 billion.
$10.9 Billion Operating Loss, But Margins Improving
Despite the revenue surge, OpenAI's operating loss widened to $10.9 billion from $10.1 billion in the prior quarter, Reuters reported. The adjusted operating margin improved to -109% from -150%, meaning the company is losing less per dollar of revenue even as total spending grows. Friar attributed past growth limits to being “stuck on this Azure contract” and said unlocking third‑party cloud distribution would be a “very big tailwind in 2027.”
Neck and Neck With Anthropic
For the first time this year, OpenAI and Anthropic are growing at nearly identical rates. Anthropic reported $17 billion in Q3 revenue with 47% quarter‑over‑quarter growth, while OpenAI grew roughly 50%. “OpenAI went from 18% growth to nearly 50. Anthropic went from 144% down to 47%,” Yahoo Finance's Deirdre Bosa reported. Anthropic remains ahead in absolute revenue by a $17 billion to $10 billion margin, but its growth rate is decelerating faster.
Enterprise AI Spend Tops $176 Billion
A Menlo Ventures report cited by Yahoo Finance found enterprises spent $176.8 billion on AI services year‑to‑date — a 5.4‑fold increase over all of 2025. But 69% of every dollar goes to just three companies: Anthropic, Google, and OpenAI. Agents account for 80% of all AI tokens generated, and coding is the top use case at 44% of enterprise AI spend. For builders, the signal is clear: the enterprise AI market is real and enormous, but the model‑layer companies are absorbing most of the value.
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