Overview
- The company reported about $10 billion in revenue for the third quarter, a roughly 50% increase from the prior quarter and a run-rate near $50 billion, according to multiple November 10 reports.
- OpenAI’s adjusted operating margin improved from -150% to -109% in Q3, a big swing that still means the firm is losing more than it earns on an adjusted basis.
- The Wall Street Journal reported an unadjusted Q3 operating loss near $10.9–$11 billion, showing that headline revenue gains have not erased steep cash burn.
- More than half of revenue now comes from enterprise customers using OpenAI’s APIs and newer models such as GPT-5.6 and Astra, while consumer subscriptions remain over 100 million users.
- OpenAI is racing to secure up to $20 billion in outside funding with about $11 billion reportedly committed, a move that will shape its valuation and the company’s ability to convert fast revenue growth into durable profits.